Category: Taxes

Franchise Tax Bill Could Be Disastrous

This headline from the Texas Tribune says it all: “Texas House votes to cut business tax that funds public schools.”

Last Thursday, Texas Republicans brought forward a bill that would eventually phase out the franchise tax. Built upon the idea of a fake surplus, the bill would count GR-dedicated funds as “extra” money, and use those calculations to create a total by which the state would cut the franchise tax. The Legislative Budget Board analysis found that the bill could create as much as a $3.5 billion hit to our state’s general revenue fund and, thus, our public schools in just a few years.

(more…)

Budget Preview: What We Can Expect

The House Appropriations Committee is continuing its work on the budget for the 2018-19 biennium. Additionally, the supplemental appropriations bill, House Bill 2, has been filed — that is the bill that fills the gap for underfunded programs in our current two-year budget cycle.

(more…)