As a journalist, I have witnessed the rise and fall of many businesses, and as a member of the Republican State Central Committee, I have seen firsthand the importance of maintaining a favorable business climate. However, lately, I am concerned about some of the legislation being proposed during this session that is anti-free market and pro-big government intervention.
One such bill is Senate Bill 234, which could have disastrous consequences for businesses in Louisiana. This bill aims to reduce the number of financial institutions eligible to compete for taxpayer-funded projects. While it may seem like a good idea on paper, it overlooks the basic understanding of economics. A competitive bond market is essential for businesses, municipalities, and taxpayers because it allows for innovation in infrastructure development, job creation, and a favorable economic environment for businesses to thrive.
If we want our state’s economy to continue growing at its current pace (Louisiana ranked 5th in the US for economic growth in 2023), we must prioritize pro-growth policies that benefit our families, businesses, and taxpayers. We cannot afford to follow the same path as Texas did by passing similar legislation that restricted local municipalities from doing business with specific financial institutions at the discretion of its attorney general. The study conducted on this legislation projected significant economic losses, job cuts