Both President Trump and Louisiana Gov. John Bel Edwards are taking credit for Louisiana's economy during a key governor's race.
Even so, it is tough to attribute the natural gas industry growth to anything Trump has done, according to David Hoaas, a professor of economics at Centenary College in Shreveport, La. He said technology has driven production more than government decisions have.
Both Hoaas and Tulane's Ricchiuti said the state's fiscal discipline seems to have made it a more desirable place to start businesses. The surplus has come with a hike in the Louisiana's sales tax, which rose to 5% from 4% in 2016. Last year, state lawmakers dropped the rate to 4.45%. "The Republicans have really had a tough time with it because they're trying to paint a picture of gloom and doom when the fact is the economy in Louisiana is doing better today than it has in many years," he said.
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