Doubling the credit: Rep. Matthew Willard, D-New Orleans, has filed a bill proposing to double the state’s Earned Income Tax Credit for low- and moderate-income families. Currently, Louisiana taxpayers receive a state EITC equal to 5% of their federal EITC, a provision set to remain in effect until Dec. 31, 2030. Starting in 2031, the state credit is scheduled to decrease to 3.5% of the federal amount. Read more from The Center Square.
Market reactions: U.S. natural gas futures are lower while showing resistance to the global market rout and plunge in oil as China hits back at U.S. tariffs with a 34% tariff on imports of U.S. goods. “Lower oil could reduce associated gas supply growth, a tailwind for U.S. natural gas prices. Gas demand is also less sensitive to economic activity than oil,” analysts at Morgan Stanley write in a note. Read more from The Wall Street Journal.
Tumbling stocks: The sell-off for financial markets worldwide is slamming into an even higher, scarier gear on Friday. The S&P 500 tumbled 5.7%, and the Dow Jones Industrial Average plunged 2,054 points as Wall Street’s worst crisis since the COVID crash deepens. The Nasdaq composite was down 5.5%, with a little more than an hour remaining in trading, after China matched President Donald Trump’s big raise in tariffs in an escalating trade war. Read more from The Associated Press.
