BATON ROUGE, La. (AP) — Louisiana senators trying to cope with a $1.2 billion drop in state income next year are hoping Washington will give them a bailout.
Senators heard from their advisers Thursday about the economic stimulus legislation in Congress, which would provide more than $5 billion in aid for Louisiana over several years. While all of it can’t be used to plug holes in the state budget, a sizable portion could.
But at least one senator, Democrat Nick Gautreaux, advised against simply plugging federal bailout aid into Louisiana’s budget. Gautreaux says while that may stave off immediate problems, it’s only a short-term fix because the money would disappear in later years.
The U.S. House has passed a stimulus bill while the U.S. Senate is debating its version. President Barack Obama hopes to have a final compromise version on his desk later this month.—-Contact The Daily Reveille news staff at [email protected]