Legislature has math problem on taxes
DallasNews.com | News for Dallas, Texas | Texas Legislature: "A new analysis from the state comptroller's office on the tax swap bill passed by the Senate this week prompted House and Senate leaders Friday to question each other's math.
House Speaker Tom Craddick first pointed to the comptroller's study, saying it showed flaws in the Senate plan. Namely, the bill would raise more tax revenue than it provides in property tax relief – something the House would not agree to.
Lt. Gov. David Dewhurst, who presides over the Senate, responded a short time later by noting that the comptroller's study was out of date because it didn't reflect the bigger property tax reductions that the Senate agreed to after passing its tax bill. Those reductions made the tax swap bill revenue neutral, he said.
'Any new tax dollars will go to lowering school property taxes, dollar for dollar,' Mr. Dewhurst said. 'Every dollar raised from new taxes will offset the property tax reductions.'"
House Speaker Tom Craddick first pointed to the comptroller's study, saying it showed flaws in the Senate plan. Namely, the bill would raise more tax revenue than it provides in property tax relief – something the House would not agree to.
Lt. Gov. David Dewhurst, who presides over the Senate, responded a short time later by noting that the comptroller's study was out of date because it didn't reflect the bigger property tax reductions that the Senate agreed to after passing its tax bill. Those reductions made the tax swap bill revenue neutral, he said.
'Any new tax dollars will go to lowering school property taxes, dollar for dollar,' Mr. Dewhurst said. 'Every dollar raised from new taxes will offset the property tax reductions.'"
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