While most state voters go to the voting booth in early November, Louisiana residents decided four consequential ballot measures last Saturday. The results were a mixed bag for taxpayers. On the positive side of the ledger, Amendment 3 failed by 54.3% to 45.7% margin. Amendment 3 would have expanded the Louisiana State Legislature’s authority to address fiscal issues during odd-numbered years. National Taxpayers Union (NTU) believes this would have led to greater government spending and higher taxes.
There were, however, some notable setbacks for Pelican State taxpayers. Most prominently, Amendment 2 passed by a margin of 52.9% to 47.1%. Amendment 2 will create the Louisiana Transportation Infrastructure Bank, which will use revenue to borrow funds to pay for transportation within the state. These types of infrastructure banks are rampant with politically-driven government spending.
There were two additional statewide ballot initiatives in Louisiana. Amendment 1 would have used revenues generated by existing taxes to create budget and transportation stabilization funds. This measure failed by a 52.5% to 47.5% margin.
Finally, Amendment 4 was passed by a 51.4% to 48.6% margin. As a result, the ad valorem tax deduction available to non-Louisiana state and local governments owning property within the Pelican State was eliminated. By eliminating the deduction, it raised the tax burden.