Growth Over Big Government: Why Louisiana Must Reject Bill 234 and Promote a Competitive Bond Market

As a public servant, member of the Republican State Central Committee, and business owner from New Orleans, I have always been committed to promoting economic growth and development in our state. However, I am concerned about some of the legislation being proposed this session that could harm businesses and taxpayers.

One bill in particular, Senate Bill 234, has the potential to cause significant damage to Louisiana’s economy. This bill restricts financial institutions from competing for and financing taxpayer-funded projects such as road construction, school maintenance, firefighting equipment, and healthcare facilities. This bill overlooks the importance of a competitive bond market for businesses, municipalities, and taxpayers alike. A competitive bond market is essential for innovation in infrastructure development and job creation.

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 found significant economic losses, job cuts, and reduced tax revenues in Texas. Louisiana cannot afford to follow the same path. We must prioritize policies that support economic growth and prosperity for all residents.

If we want businesses to succeed in Louisiana, we need pro-growth policies that benefit families and communities alike. I urge Louisiana’s lawmakers and residents to oppose unnecessary government interference in projects that could harm our economy. By prioritizing economic growth over big government intrusion, we can ensure a brighter future for everyone in Louisiana.