It takes big news out of Baton Rouge to get noticed during the ongoing oil gusher saga.  House Speaker Jim Tucker has managed to do it.  Tucker, as a member of the Revenue Estimating Conference, has refused to recognize what appears to be an additional multi hundred million dollar deficit in this fiscal year.  As one of four voting members of the Revenue Estimating Conference Tucker has this power.  The Conference must rule unanimously to take any actions.  Without Tucker's vote the Conference cannot recognize an addtional budget deficit or surplus.

Most news reports seem to assert that Tucker is off his rocker and his Senate counterparts are more reasonable because they want to address the issue before the end of the current legislative session.  What is not getting much news coverage is the fact that Tucker is also refusing to recognize the approximate $400 million in revenues collected through a recent tax amnesty program.  The Senate it seems is more inclined to spend one time taxpayer funds to plug holes this year.  Senate Finance Chairman Mike Michot of Lafayette has already stated his committee plans to restore some budget cuts the House has already approved.

Under Louisiana's Constitution the Legislature has until the end of the following fiscal year to correct any budget deficit after the state's books are officially closed in October.  It appears House Appropriations Chairman Jim Fannin is supporting Tucker's move and has stated he would prefer to have an additional year to fix this year's additional deficit.  Now why would Fannin and Tucker take this approach?  They subject themselves to ridicule in the press rather than take the easier and messier path of the Senate, just throw one time revenues at the problem.  Who is actually kicking tough choices and reality down the road?

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I would suggest the Speaker is taking the more prudent road to fiscal responsibility.  His statements that he wants to address the actual deficit after it is known in October and judging by his previous record of favoring budget reductions over tax increases or spending of one time revenues lead me to believe the Speaker is on the right path.  Economists interviewed during the Estimating Conference proceedings stated they were not very confident in the new projections and allowed that things may end up even worse and this is occuring in the last month of the fiscal year.

What if the deficit turns out to be even worse when the books are closed?  What if the Senate has restored cuts and also spent all the one time revenues necessary to plug an estimated deficit?  Will the taxpayers of Louisiana be in better or worse shape?  If the Speaker and Chairman Fannin are taking their position to protect the taxpayer, to favor further cuts rather than taxes and one time monies then they are to be applauded.  Doesn't it make sense in a fiscal year such as this to wait until the final numbers are in and not continue to throw money at an unknown situation?

 Yes, the Speaker has made some news with some unusual manuevering, but it just may be that the taxpayers of this State should have a reason to read a little further and analyze this story for what it just may be, a lawmaker with a plan to protect taxpayers and to prevent a problem so large next fiscal year that calls for tax increases might just win the day.