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Guest Speakers Address Retired Teachers Association PDF Print E-mail
Wednesday, 21 October 2009 09:08

From KFLY Channel 10 Lafayette

Ronald Eldridge
Ronald Eldridge

The Louisiana Retired Teachers Association fall meeting came to a conclusion Wednesday after three days of fellowship and workshops, which included a number of guest speakers.

One in particular, a financial expert, laid out what he says is a simple and effective way to insure Louisiana will always have all the money it needs.

Ronald Eldridge, who has degrees in accounting and computer science, says the Bayou State could bring in billions of dollars in revenues simply by putting an excise tax on all pipelines currently running through the state.

More specifically, a tax on every gallon of oil or every cubic foot of natural gas that passes through any pipeline, more than 3,000 feet long and over 20 inches in diameter.

Speaking hypothetically Eldridge says a three cent per cubic foot tax on gas and a fifty cent per gallon tax on liquids would generate 198 billion dollars a year in revenues.

But for such a plan to become a reality it first needs legislative backing.

"The basic plan is so we can encourage governors, senators to bring this up for discussion put it into a bill and an act something like this" says Eldridge.

Under Eldrige's plan the majority would come from oil and gas pipeline companies, but he says other industries as well as local businesses and residents would also be responsible for a portion of the total.

 

Source: http://www.klfy.com/Global/story.asp?s=11357095

 

Last Updated on Monday, 22 February 2010 19:19
 
Baton Rouge Advocate Article PDF Print E-mail
Written by SARAH CHACKO   
Friday, 18 September 2009 18:00

Accountant pitches tax on oil, gas pipelines to Legislature

By This e-mail address is being protected from spambots. You need JavaScript enabled to view it
Advocate Capitol News Bureau
Published: Sep 19, 2009 - Page: 10A

 

A penny tax on the pipelines that pump oil and gas in and out of Louisiana is an easy way to put $45 billion in the state’s coffers, a Pearl River accountant told a legislative committee Friday.

 

Ron Eldridge, who testified before the state Senate Consumer Affairs and Technology Committee, said the idea is constitutional and could allow legislators to reduce sales, property and income taxes.

 

Legislators questioned the plan’s feasibility. Similar proposals in the past have run into constitutional problems.


Another plan, with a 3-cent tax per cubic foot of natural gas and 50 cents per gallon of oil, would result in $198 billion, he said.

Last Updated on Monday, 22 February 2010 19:19
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Times Picayune Article PDF Print E-mail
Written by Ed Anderson   
Thursday, 17 September 2009 18:00

Pipeline tax could yield billions for state, allow some taxes to be reduced, consultant says

By Ed Anderson

September 18, 2009, 5:51PM

The state could derive billions of dollars in needed revenues by taxing oil and gas pipelines based on the volume of product they carry, and generate enough money to reduce or eliminate income, property and sales taxes, a Pearl River business consultant said today.

J. Ronald Eldridge, president of an income tax and accounting consulting firm, told the Senate Select Committee on Consumer Affairs and Technology at the State Capitol that his plan would be legal because it would tax the pipelines based on the amount of oil or gas they carry through the state, not the product itself.

He said past attempts -- dating back to the administration of ex-Gov. Edwin Edwards -- exempted or reduced the tax Louisiana residents would pay on oil and gas while charging out-of-state customers more.

Last Updated on Monday, 22 February 2010 19:19
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