NEW ORLEANS - Council President Helena Moreno has issued the following statement in reaction to the Council's vote to deny two of Folgers’ ITEP applications and defer four to the January meeting. Moreno authored resolutions to deny all six applications to prioritize money going to public safety instead of a tax break to an $8B corporation.
“Today’s vote to deny two tax exemptions over the next ten years is a victory for the people of New Orleans, but only a partial one. Denying corporate tax giveaways is essential as we face an escalating fiscal crisis here in the city.
Still, regarding the other four exemptions, we know that these remaining multi-million dollar tax giveaways do not meet our standards of value for the people of New Orleans and, further, are not sustainable in the face of our ongoing budget crisis.
As our citizens look forward and see at least a year-long furlough of the critical front line, public safety employees such as firefighters and EMS responders, it is disappointing that any help these potential dollars represent will be delayed.”
Council President Moreno’s move to deny all six of the ITEP applications in total would bring in roughly $14M impact on tax revenues to just the city over the next ten years. The Council will still be able to take up the remaining instruments at the January 14th Council meeting, albeit with only six Councilmembers and no clear change in the facts as they stand now.
Chief of Staff
Office of Councilmember-at-Large Helena Moreno