Blossman/Holloway Unveil Economic Development "Road Map to Reform" in Louisiana

Jay Blossman newsletter via email ^ | 09-03-03 | Blossman, Jay

[Theodore R.]

Blossman/Holloway Unveil Economic Development Chapter to "Road Map To Reform" Conservative Ticket Pledges Tax Cuts for Businesses and Individuals Public Service Commissioner Jay Blossman (R-Mandeville) and his running mate, former Congressman Clyde Holloway (R-Forest Hill) announced today the next chapter to the Blossman "Roadmap to Reform," promising to make Louisiana a Tax Free Zone for Business and signing a strengthened version of the Americans for Tax Reform's Taxpayer Protection Pledge.

"We are promising the people of this state that we will not only oppose all tax increases, but will also actively work to cut taxes on the businesses and working families of Louisiana," said Blossman. "No other candidate in this race has made such a pledge."

Economic Development

"Louisiana is disappearing before our eyes, and I'm not talking about the coastline. Louisianans are leaving our state in record numbers, and their absence is creating a crisis that will have long-term effects," said Blossman.

The 2000 U.S. Census reported that in Louisiana, during a five year period, 75,759 more residents moved out of our state than moved into our state. The Advocate recently reported that the "flight of the state's young adults from 1995 to 2000 led a migratory population drop unmatched in the region."

"The condition that the US Census reported is called 'out-migration.' I think 'catastrophe' is a better term. This 'out-migration' is our educated youth and skilled workers fleeing for better jobs and better pay. If things don't change, this exodus will continue and will include our children and grandchildren," added Blossman

Holloway also expressed his concern over Louisiana's economic condition, and promised to work closely with Blossman to grow Louisiana's economy and stop out-migration.

"Reagan spoke of the potential of the American people and their right to fly as high as their ability could take them. It's called the American Dream. Unfortunately, failed policies of state government have robbed many Louisianans of the dream," said Holloway.

"Basically, Louisiana yanks the welcome mat out from under the feet of potential business and industry. Louisiana's tax conditions are so inhospitable, it's doubtful we're even on many potential businesses' radar screens," Blossman said. "I'm going to change that by making Louisiana a Tax Free Zone for Business."

Louisiana is one of only three states and the only Southern state not to exempt equipment and machinery purchases from state sales tax. Seven of Louisiana's ten competitor states in the South fully exempt the sales tax on machinery and equipment; others have significantly reduced rates.

"Further, our products and services start off at a competitive disadvantage because most people must incur debt to start or expand a business-in Louisiana, you are taxed on that debt," Blossman added.

"Jay's plan means more jobs for Louisiana. When there are more jobs, the mass exodus of our young people will stop," said Holloway in support of the Blossman plan.

Protecting Louisiana's Most Important Industries-Block the Oil and Gas Tax! "God had blessed our state with many natural resources. Among these are our oil and natural gas reserves. For many years, these precious resources have meant good jobs for Louisiana workers. Just imagine where we would be without our oil and gas industry to employ our people! Imagine how great our out-migration problem would be if our oil, gas, and chemical companies decided to leave Louisiana!" Blossman said.

"That's why I oppose any tax on oil and gas processing. As your Governor, I would veto the billion dollar oil and gas processing tax, because it would mean the "kiss of death" for Louisiana's economy and would drive out Louisiana's last major industry," Blossman added.

Congressman Holloway agreed. "Let's not forget that these companies have brought so much to our state. We should be rewarding them-giving them incentive to stay, not reason to leave."

Building a Business Friendly Environment by Ending the 'Morris Bart' Culture "Our country's corporate leaders are often afraid of doing business in Louisiana because we are known as a state that is friendly to trial lawyers looking for a quick buck. We must crack down on frivolous law-suits, and continue to enact true tort reform if we really want to bring businesses to our state," said Blossman.

One of the biggest obstacles to economic development in Louisiana is lawsuit abuse. We must change the image of Louisiana as a haven for class-action lawsuits. I want to make Louisiana more business friendly by passing tort reform that reduces the number of frivolous lawsuits. My plan would target unrealistic damages and cap awards for pain and suffering and other frivolous liability awards," Blossman said.

Time to Spread the Word

"Your Governor is Louisiana's Chief Executive Officer, and your CEO should travel around the world meeting one-on-one with major corporations. Major corporations expect to meet with the head guy. And you should expect your Governor to do just that," Blossman said.

Congressman Holloway emphasized the need for a candidate who is not afraid to take immediate, dramatic action. "The time for economic development is now. Jay's the only candidate with a plan that will jump start the economy. Jay's the only candidate with the courage to blast through the muck of lip service and politics as usual and say, 'Enough is enough.' If we want new business and industry and if we want to help our small businesses grow, Louisiana must become a Tax Free Zone for Businesses," concluded Holloway.

"I have a dramatic plan to put economic development into overdrive by making Louisiana a Tax Free Zone for businesses. My plan will lure new business and industry, bring good jobs home and keep our children and grandchildren in Louisiana," Blossman concluded.