Comptroller Susan Combs this week estimated that the new state business tax on gross revenues would bring in $500 to $800 million less than expected. This estimate is based on voluntary submissions made by many affected businesses. However, many business, particularly those in the service industry that is heavily targeted by the tax, did not submit their projected tax burden.
Mlevin
Rep. Hancock Seeks Death Penalty for Unused Life Insurance Tax
Representative Kelly Hancock , a Tarrant County Republican, has filed House Bill 1849 that will eliminate a tax imposed by the Texas Department of Insurance to Texas life insurers that now serves no purpose.
Democrat Strama Files Fiscally Conservative Legislation
Mark Strama, a Democrat representing North Austin and Pflugerville, is proving that he is not beholden to liberal orthodoxy when it comes to fiscal responsibility. He has filed the following bills:
HB 2966 mandates that funds collected from specialty license plate fees must be used for the purpose and/or entity for which it was dedicated
Otto’s Motto: Property Tax Relief for Texans
State Rep. John Otto (R-Dayton) is an accountant and strong conservative leader who the Lone Star Report says "is rapidly becoming the House leadership’s resident expert on all taxation issues." He has filed numerous bills to fix abuses in the property tax system.
Support Grows for Paxton Amendment to Limit State and Local Government Spending
Legislative support is increasingly emerging for House Joint Resolution 53 by Rep. Ken Paxton which would greatly strengthen the state constitutional spending limitation and, for the first time, create a similar limitation for local governments. Â Authors and co-authors are a who's who of conservative legislators:Â
House Committee Unanimously Hangs Up on Telephone Tax
The Lone Star Report brings us the following good news:
The House Regulated Industries committee unanimously voted Feb. 21 to eliminate the Telecommunications Infrastructure Fund (TIF). The tax on consumers’ phone bill was created in 1995 to help wire schools, libraries and colleges for the Internet. TIF was supposed to end after 10 years or after it raised $1.5 billion, whichever came first. However in 2005, the Legislature removed the tax’s expiration date. Since 2003, the tax was used to fund general revenue and is no longer used for its original purpose.
Lower State Taxes & Spending Equal Less Poverty, Rising Tide Lifts All Boats
A recent study by the Goldwater Institute has demonstrated that low-tax and low-spending states are more successful at reducing poverty than their high-tax, high-spending counterparts. As President Reagan noted, a rising tide lifts all boats.
Senator Nichols Stands Up for Homeowners
The Athens Review (Texas not Greece) reported today that Senator Robert Nichols, a Republican freshman representing Northeast Texas, has filed two bills to benefit homeowners. First, SB575 would cap appraisal increases at 5 percent for homeowners, though it would not apply to rented property. Second, SB576 would prohibit governments from confiscating private property in order to create parks and hike and bike trails. Â
Shenandoah Texas May Set Record for Per Capita Cost of Taxpayer-Funded Lobbyists
The Houston Chronicle recently reported that the town of Shenandoah Texas has hired taxpayer-funded lobbyists for $30,000 this session.
Taxpayers Deserve to be Paid Back
Corpus Christi's KRIS television reported this week that the Nueces County Hospital District is asking the Legislature to pass a bill that will allow them to recover money on behalf of taxpayers when those who receive "indigent" care later receive an insurance settlement windfall for that same care. The District estimates that it loses about a half million dollars every year as a result of this phenomenon.