Posted on 05/10/2005 5:09:39 AM PDT by Racehorse
Only Texas families making more than $140,853 a year would get a tax break under a multibillion-dollar proposal crafted by Senate leaders to reduce local school property taxes through higher state levies on businesses and consumers.
Those earning less would bear a heavier tax burden on average under the bill approved by the Senate Finance Committee, which leaders said will be considered by the full Senate today.
If the Senate passes it, the school finance bill would head to a conference committee that would try to work out differences with a tax-swap measure previously approved by the House.
The largest net tax increase of 4.1 percent would hit households making between $22,833 and $31,735 a year, according to the fiscal 2007 tax-equity analysis of the Senate plan by the Legislative Budget Board.
Families earning between $100,593 and $140,853 would, as a group, see a small net tax increase of 0.07 percent, according to the analysis, which looks at the overall effect of the proposed property tax reduction coupled with increases in business, sales, tobacco and alcohol taxes.
Sen. Steve Ogden, the bill's author, said Monday he is looking at ways to relieve the burden on lower- and middle-income households, anticipating that the analysis might raise concern among his colleagues.
Senate leaders already had run into a snag Monday with plans to consider a related bill to overhaul public education, postponing it until Wednesday so senators could consider the tax measure first.
(Excerpt) Read more at mysanantonio.com ...
aren't all texans millionairs?
/sarky
Well, if the Texas Senators don't like it...can't they just run away to New Mexico again?
According to SuperTramp...YES!
"aren't all texans millionairs?"
Yes, we are. But its a fact we try to hide. I hid it so well I can't find it.
"Senator Ogden and his "colleagues" best stop looking for ways to relieve the tax burden and get down to doing some real grunt work."
I can't believe you said that! The republicans were elected to all statewide offices and their mandate was not to RAISE taxes. Texas government is an infestation of bureaucrats that are overpaid and unproductive by design. I know, because I worked there for 20 years. There needs to be a thorough house cleaning in each agency that would save enough money to balance the budget.
The schools are not underfunded, they just have way too much "administrative" costs.
>>>"The schools are not underfunded, they just have way too much "administrative" costs."
$230,000/yr county school Superintendents are everywhere.
Besides getting raises and a new car they'll also get this tax cut for those over $140,000.
Hoppy
Either I miswrote or you misunderstood.
My translation of what I wrote: "Stop looking and do something sensible to lower our school taxes!"
That help?
They fix those areas and the budget will damn near take care of itself.
Sorry, I guess I misunderstood the meaning of your post.
I can't even tell you how many assistant superintendents and assistant principals in Abilene ISD that are making the big bucks. I can just immagine how many there are in large districts like Dallas and Houston.
It seems this article is quite misleading. By my reading it looks like the "rich" only get a tax cut in that they get less of a tax increase, percentage-wise, than the "poor." Still, it's a tax increase.
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