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The Best Choice for a Prosperous Texas: A Texas-Style Personal Income Tax

  

Author:
Dick Lavine /(512) 320-0222 x 101

October 1, 2006

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This policy brief explains why a Texas-style personal income tax is the best way to meet the needs of Texas. Only a personal income tax can significantly reduce reliance on property taxes – cutting the school operations tax to as low as 20 cents per $100 of valuation – while providing over $5 billion annually for education. The expanded business tax cannot raise enough money. A higher sales tax would be volatile and regressive. An income tax would reduce taxes on the middle class and benefit the economy. Public opinion polls show that Texans are open to considering a Texas-style income tax.