Gov. John Bel Edwards unveils far-reaching tax plan
 

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Gov. John Bel Edwards on Wednesday unveiled a far-reaching tax plan to fix a $1.2 billion fiscal precipice the state is approaching next year, calling for a striking departure from how businesses are currently taxed and cutting income taxes for most Louisiana residents.

A key part of the plan is the addition of a commercial activity tax (CAT) ? essentially a 0.35 percent tax on gross receipts for businesses.?