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Senate Lowers Tax Rate to $1 by Spending $5 Billion

by: Phillip Martin on Fri May 05, 2006 at 13:48:40 PM CDT

The Senate Finance Committee just passed an amendment, 10-4, to House Bill 1 that says that in 2008 the tax rate will be lowered to $1. In order to get there, they will use the money generated by HB 3, 4, and 5 and then, on top of that, $2.5 billion each year ($5 billion in the next biennium) to lower the tax rate to a dollar.

There is absolutely no way to pay for that amendment except by cutting already depleted areas of state government. In order to get to $1, the Legislature will have to make even more drastic cuts in health care, public safety, criminal justice, and any other number of state services.

The Center for Public Poilcy Priorities has a study titled, "Man-Made Fiscal Crisis Worse than 2003: Cutting School Property Taxes to $1.00." As they say:

Using state revenue to replace school property taxes, cutting tax rates to $1.00 in 2008, would force a 16% cut in state spending subject to the constitutional cap on spending in the 2008-09 budget. Such a cut would needlessly force damaging cuts in vital state services.

Tags: Special Session, Texas Lege, (All Tags)

Senate Lowers Tax Rate to $1 by Spending $5 Billion | 16 comments | Time to post comments expired.

Shapiro (0.00 / 0)

"This is a light your hair on fire proposal!"

Wow, Shapiro is getting HOTT in the committee room today. Someone isn't happy.

Yes, but what would Treaty Oak have to say about it?

by: Karl-Thomas Musselman @ Fri May 05, 2006 at 14:05:22 PM CDT

[ Reply ]

Limit the Money (0.00 / 0)

Sounds like a Grover Norquist proposal-- limit government by limiting money.

very very scary stuff.

Read Just Another Blog

by: Matt @ Fri May 05, 2006 at 14:45:21 PM CDT

[ Reply ]

But it's an election year (0.00 / 0)

All the voters see is that they are lowering property tax rates. On paper anyway. Who knows what they will do in the regular session next year. Probably suggest home schooling is the answer to the public education problem. No schools, no teachers, no more problems. Simple minds, simple solutions.

All they care about is getting elected in November. And they will scam their way back into office. Like they always do.

by: Baby Snooks @ Fri May 05, 2006 at 15:04:41 PM CDT

[ Reply ]

So what do you libs propose? (0.00 / 0)

Raising the tax ceiling to $2.50 per 100 cent valuation? A state income tax? A tax on the sale of high-polluting classic cars?
There seems to be no solutions offered from the far left here in Texas. Just gloom and doom comments.
If any of you can offer any better ideas than the Larry, Moe and Curly that we have running the exec post and the Lege, I'd love to hear them. Otherwise, you and the clowns on the right are going to solidify my Libertarian vote- and we'll see a push toward some REAL cost cuttin' that'll make even Grover Norquidst soil his Depends...

by: sfagrad02 @ Fri May 05, 2006 at 15:37:53 PM CDT

[ Reply ]

income tax

Watch Sen. Shaplieh's presentation on that one and even you may become a convert. And it was actually filed in this special in two separate bills.

And you comment is quite telling. You mention tax, tax, tax. but not once education. You know, the reason we are in session.

Yes, but what would Treaty Oak have to say about it?

by: Karl-Thomas Musselman @ Fri May 05, 2006 at 15:46:02 PM CDT

[ Parent ]

Why most oppose the income tax

If a state income tax were to replace another tax or all other taxes, it might be supported. But given the history of our legislature, it would only be another tax. So, no way, Jose.

by: Baby Snooks @ Fri May 05, 2006 at 17:06:50 PM CDT

[ Parent ]

Nice

Open ideas from the Kinky campaign.

Now, a very great man once said that some people rob you with a fountain pen.

by: Phillip Martin @ Fri May 05, 2006 at 19:52:29 PM CDT

[ Parent ]

Why most oppose the income tax?

Ignorance.

Prisoner of hope.

by: comeon @ Fri May 05, 2006 at 21:02:13 PM CDT

[ Parent ]

Senate Finance Committee (0.00 / 0)

I'm a House-person. I know the ins and outs of the House and its committees relatively well, but am a novice when it comes to Senate proceedings. What's the Finance Committee been like, over the past couple years. Are the fireworks we saw today common, or just the product of a long, stressful special session?

Now, a very great man once said that some people rob you with a fountain pen.

by: Phillip Martin @ Sat May 06, 2006 at 12:30:24 PM CDT

[ Reply ]

The shape of the issue at hand....

is unprecedented. Never have our policymakers been under such a time crunch to find a solution, after a judge set a deadline and ruled that our current school financing system is unconstitutional. So I think the approaching deadline, as well as the status of this being an election year, as got them under the pressure cooker.

by: sfagrad02 @ Sat May 06, 2006 at 15:14:06 PM CDT

[ Parent ]

Senate Lowers Tax Rate to $1 by Spending $5 Billion | 16 comments | Time to post comments expired.

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