Louisiana Recommended Spending Percentages
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FAQ
What do state and local governments spend money on? State and local governments spend most of their resources on education, health, and social service programs. In 2019, about one-third of state and local spending went toward combined elementary and secondary education (22 percent) and higher education (9 percent).
Nearly 60 percent of mandatory spending in 2019 was for Social Security and other income support programs (figure 3). Most of the remainder paid for the two major government health programs, Medicare and Medicaid.
Tax is one of the major sources of revenue for the government to carry out its work. Tax revenue can be classified into a few major categories corporation tax, tax on income, Customs, Union excise duties, service tax, and several others. Corporation tax is the biggest source of revenue for the government.
With the exception of certain self-generated funds, bond proceeds, and federal receipts, these funds are collected by five departments: Revenue, Natural Resources, Treasury, Public Safety and Corrections, and Insurance.
As Figure A suggests, Social Security is the single largest mandatory spending item, taking up 38% or nearly $1,050 billion of the $2,736 billion total. The next largest expenditures are Medicare and Income Security, with the remaining amount going to Medicaid, Veterans Benefits, and other programs.
Revenues come mainly from tax collections, licensing fees, federal aid, and returns on investments. Expenditures generally include spending on government salaries, infrastructure, education, public pensions, public assistance, corrections, Medicaid, and transportation.
Louisiana's current budget Louisiana enacted its FY 2022 budget in June 2021. The enacted budget included $38 billion in total spending. Under the American Rescue Plan, Louisiana will receive $3 billion in direct state fiscal aid and $1.5 billion in local government aid from the federal government.
The largest sources of state revenues are individual income taxes and state sales and use taxes, followed by severance taxes. The state general sales and use tax rate is 3.97% and is applicable to: (1) The sale of tangible personal property at retail in this state.
The U.S. Treasury disperses all federal spending into three groups: mandatory spending, discretionary spending, and interest on debts.
