CAMPBELL ON TAX-CUT VETOES:"I'LL PROVIDE MUCH MORE TAX RELIEF"
Gubernatorial candidate Foster Campbell said Friday that Louisiana citizens shouldn't despair about tax cuts vetoed by Governor Blanco because he'll provide much greater tax relief by eliminating the personal and corporate income taxes.
Campbell, a Democrat from Bossier Parish, said the income-tax elimination "will provide the largest tax cuts ever made in Louisiana and will spark a huge economic boom that will benefit both businesses and individual Louisianians."
"Although the Louisiana Legislature refused to override the Governor's vetoes," Campbell said, "they can take comfort in the fact that they'll keep even more of their hard-earned money when I'm elected Governor."
Campbell has proposed instituting a six-per-cent fee on oil and gas processed in Louisiana, most of it from foreign nations and companies, to make up for the income-tax elimination. Together, the personal and corporate income taxes provide $3.1 million annually to the state.
The processing fee will yield at least $5.5 billion each year, providing enough additional funding to attack Louisiana's $14 billion in highway needs, begin serious efforts to restore the state's vanishing coastline, improve public schools and provide greater access to healthcare.
"I'm the only candidate with a fiscal plan to boost Louisiana's economy and move our state out of the rut it's been in for decades," Campbell said. "All the other candidates propose to tinker around the edges with the current system--one that has left Louisiana at the bottom of the states in education, healthcare, roads, income and many other measures of our well-being.
"Those Louisiana citizens satisfied with our current system should vote for one of the other candidates," he said.
"But those who are ready for real change, for a bold plan to move Louisiana forward, should support me and my vision for our future," Campbell said.