SHREVEPORT, La. ( KTAL/KMSS ) – State Treasurer John Fleming said it is time for Louisiana to eliminate the personal income tax.

Treasurer Fleming said this was the best way to compete against Texas and states with similar laws. He said Louisiana is not doing great economically, and this tax is holding the state back from growth.

“So I think it is emblematic of the destination you want to move to because if you don’t have a personal income tax, you automatically see benefits moving forward. You know there is going to be jobs, job creation, and formation of capital investment in such states that have no personal income tax,” Fleming said.

Fleming said a large number of people and companies are relocating to the South as it becomes a new economic hub. However, they bypass Louisiana and land in Texas , Tennessee , and Florida . He said those states do not have a personal income tax and believes eliminating it would benefit Louisiana.

“I think it would have an extremely positive affect because what people are doing is moving across the country, we have a very mobile population in America. People are leaving New York and California everyday. They say where are we going to go? Well, what states do not have a personal income tax? That is one of the first questions they ask,” Fleming said.

He is pressing Gov. Jeff Landry and the state legislature to bring forth a bill next fiscal session to eliminate the tax. We asked if it would only attract those with high incomes to make the move. Fleming said it would affect both wealth and non-wealth.

“Because people who don’t have wealth want jobs. People are not coming to Louisiana for job opportunities. They are going to other states. The reason is our regulations are too expensive and too high. Too complicated. Our tax system is patchwork complicated and needs to be simplified,” Fleming said.

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He shares his thoughts on whether eliminating the tax would be popular enough to pass the state house and the governor’s desk.

“Among politicians, it’s not popular at all. Politicians want more of your money. To them, having your money to spend is a power move. They enjoy that power,’ Fleming said.

Louisiana will enter its fiscal session next year. Fleming says he is asking the governor and legislature to pass personal tax reform before the session ends. He is also considering insurance price reform.

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