BATON ROUGE, La.- Leaders of the Louisiana House and Senate say yesterday’s announcement during the Revenue Estimating Committee of historic balances in state bank accounts is worthy of praise. The Louisiana Workforce Commission reports that the Unemployment Trust Fund is expected to grow to $1.2 billion by August of 2026, the highest total in the state’s history.

As a result, unemployment taxes for business will be reduced and jobless benefits will increase
to $282/week.

Additionally, the Budget Stabilization Fund has also reached an unprecedented balance of
$1.227B, more than doubling in the last five years.

The Budget Stabilization Fund was established in 1999 and contains surplus funding and mineral
revenue. The fund can be used to cover fiscal shortfalls/deficits and during a declared disaster.
“Responsible budgeting by the legislature is having an incredibly positive impact and reducing
taxes on our businesses,” said Speaker of the House Phillip DeVillier. “Not only have we
delivered on the reforms we promised in terms of crime, education, transportation and insurance
legislators have done so with an eye towards saving money, prioritizing spending and reducing
waste. And it’s all paying off by limiting government growth and giving money back to our
citizens.”

“Recognizing historic amounts fund balances is a significant accomplishment for the state,” says
Senate President Cameron Henry. “It sends a message that Louisiana is responsibly managing its
budget and we’re ready to invest in economic development and improve our overall business
climate in ways we’ve never been able to do before.”

Courtesy of Louisiana Legislature