Finally, a real tax relief measure is coming. State Sen. Craig Estes has filed legislation in advance of the January session to repeal the complicated, invasive and inefficient gross margins tax on business.
Not replace, not modify, not cut . . . rather, the tax would be “repealed.”
The Wichita Falls Republican has become a vocal opponent of the measure. He even flew to Nevada earlier this year to speak in opposition of a similar measure being pushed there. Nevada lawmakers were telling voters, in essence, that “since Texas has it, it must be ok.”
The Nevada measure was soundly rejected, despite lofty promises of unending revenues.
The same promises were made in Texas when it was passed in a court-ordered special session regarding school finance in 2006. Since then, the measure has been labeled an “income tax” by accounting professionals (but not by the state’s Supreme Court).
Estes told a Nevada audience that he had “seen the light” on the problems with the tax.
“I’m telling you, using us as a model is not the way to go.”
Estes’ SB 105 will be on the Fiscal Responsibility Index in 2015.