Protecting Louisiana’s Economy: The Dangers of Anti-Free Market Legislation and the Importance of Pro-Growth Policies

As a public servant, a member of the Republican State Central Committee and a business owner from New Orleans, I have always made it my top priority to cultivate and maintain a strong business climate while furthering economic development in our state. However, I am deeply concerned about some of the misguided legislation that is currently being considered this session.

One such bill, Senate Bill 234, has the potential to cause disastrous consequences for businesses and Louisiana taxpayers. This bill could reduce the number of financial institutions eligible to compete for and finance taxpayer-funded projects, such as road construction, school maintenance, assets for first responders, and healthcare. This overlooks even the most basic understanding of economics: a competitive bond market is essential for businesses, municipalities and taxpayers alike. It allows for innovation in infrastructure development, job creation and a favorable economic environment for businesses to thrive.

In 2021, Texas passed similar legislation that restricted local municipalities from doing business with specific financial institutions at the discretion of its attorney general. A recent study on the impact of this legislation in Texas projected significant economic losses, job cuts and reduced tax revenues. Louisiana cannot afford to follow down this same path. Our state ranked 5th in the United States for economic growth in 2023; we cannot jeopardize this progress by enacting anti-free market policies that stifle growth and prosperity.

If we want businesses and residents to succeed in Louisiana, we need pro-growth policies that benefit our families, businesses and taxpayers alike. I urge Louisiana’s lawmakers and residents to oppose unnecessary government interference in projects that could harm our economy. We must prioritize policies that support economic growth and prosperity for all Louisianans.