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Louisiana income forecast assumes slow recovery in pandemic

Source: neworleanscitybusiness.com - Jan 21, 2021

Louisiana officials Tuesday set a conservative estimate for next year’s income forecast that anticipates the state’s economy will remain sluggish amid a halting recovery from the coronavirus pandemic.

State tax collections have come in stronger than expected so far during the virus outbreak. But uncertainty surrounding the pace of COVID-19 vaccinations and restrictions remained strong enough that the Revenue Estimating Conference, a four-member panel that sets the projections used to build Louisiana’s budget, cut its forecast for the budget year that begins July 1.

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Category: General Business