The Louisiana House refused to create a new tax credit for firearm and ammunition manufacturers who move their businesses to Louisiana.
House Bill 686, sponsored by state Rep. Ray Garofalo, stalled on a 47-47 vote Wednesday. Garofalo, R-Meraux, can try again if he can pick up the six votes needed for passage.
Opponents of HB686 cited budgetary worries, saying they didn’t want to force further budget cuts to pay for a new tax break.
Garofalo said the tax credit wouldn’t take dollars out of the state’s budget because it would only apply to companies that aren’t currently in the state. He says gun control laws being enacted in other states created a prime opportunity for Louisiana to attract the manufacturers.
Copyright © 2011, Capital City Press LLC • 7290 Bluebonnet Blvd., Baton Rouge, LA 70810 • All Rights Reserved