BATON ROUGE, La. — Louisiana State Treasurer John Fleming on Tuesday called on state lawmakers to return recent surplus revenue directly to taxpayers, citing stronger-than-expected collections and an improved fiscal outlook.
Fleming said current projections show Louisiana will end the fiscal year on June 30, 2026, with a surplus of $293 million, driven by revenue collections that exceeded earlier forecasts by hundreds of millions of dollars.
“Thanks to stronger-than-anticipated revenue collections and a resilient Louisiana economy, our state is projected to collect significantly more in tax revenue than originally forecast this year,” Fleming said. “This surplus demonstrates both economic momentum and fiscal strength. Now, it is only right that these dollars be returned to the taxpayers who earned them.”
Fleming said the surplus presents an opportunity to reduce taxes rather than expand state spending. He argued that returning excess revenue to taxpayers would ease the burden on working families and improve Louisiana’s competitiveness with neighboring states.
“We have an opportunity, and a genuine responsibility, to put these excess funds back in the hands of Louisiana families and job creators,” Fleming said. “Rather than increasing state government spending once again, we should use this positive forecast to reduce taxes and regulations, lower the burden on working families, and make Louisiana more competitive with neighboring states such as Florida. This policy will lead to more surpluses and tax cuts in the future.”
Fleming outlined several principles for using the surplus, including broad-based tax relief, maintaining a pro-growth tax environment and ensuring that any tax cuts are structured to avoid long-term budget instability.
“Taxpayers, not state government bureaucrats, should be the beneficiaries of a stronger Louisiana economy,” Fleming said. “We should reward hard work, support increased investment in our state, and help Louisiana taxpayers keep more of what they earn.”
Fleming said he plans to work with members of the Louisiana Legislature and fiscal analysts to develop proposals aimed at returning surplus funds while maintaining the state’s long-term fiscal health.