The INDsider -> Mary Tutwiler TUE, MAY 26 5:45AM by Mary Tutwiler

Jindal may use rainy-day fund for higher education

This just in from the Times-Picayune:

Gov. Bobby Jindal said this morning that he might be willing to use some money from the state's rainy-day fund to offset budget cuts planned for public colleges and universities.

Jindal said use of the fund is part of ongoing discussions between the administration and leaders in the House and Senate over various ways to plug at least part of the $219 million in reductions for higher education that the governor proposed in his 2009-10 budget blueprint.

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written by Jason D. Faulk , May 26, 2009 - 11:49 pm

Why is it that as of yesterday the daily lafayette paper and others are reporting that Gov. Jindal remains opposed to delaying the repeal of the full-credit for the itemized deductions on federal taxes, which would allow itemizers on federal taxes to claim only 65% instead of the full 100% of their itemized deductions, when, as many good government groups and many others are arguing, doing so, would soften the higher education budget crunch, reducing this year, the 15% cuts, down to a more manageable 7.5% cut. This would soften the adjustment and decline as many conservatives advocate, or expect for, long term reduced higher-ed funding. The gradual change would allow our systems to plan for "endemic-system-shock" and make the adjustments necessary in order to have hopes of preserving the nature and quality of our education, along with the peerage it is held amongst it's counterparts in the South and the nation.

Furthermore, I have to ask, if there is not the incentive of a higher tax burden through these partially reduced itemization credits, then what additional motivation do we expect of our citizens who are not taxed at a higher rate that they would then see the benefit of installing solar power photovoltaic, solar water heating, small wind and other renewable energy systems, on their homes, or rental properties (and perhaps small business installations), in order to obtain the full $12,500 credit available from the state to encourage these works?

Something's got to give, and for many like me and many others in this state, we don't pay enough in one year of income taxes to the state of Louisiana, to ever hope to have enough tax liability to merit the installation of systems of these sort in order to claim the credit.

Am I missing something? Please enlighten me.
Maybe it's just politics. Does the governor have a record to establish, or are these his principles? If principle, then considering he announced early in his term that the state would start being more efficient and renewable with state facilities, then what about TRULY enabling the little guy to do so as well?

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written by Pressed Rat , May 29, 2009 - 02:41 am

Jason, you ask "Am I missing something?" Yes, your writing is not very clear. Nonetheless, I believe the $12,500 credit is fully refundable no matter what the amount of Louisiana tax.

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