June 13, 2011
Senators Rodney Ellis (D-Houston), Wendy Davis (D-Fort Worth) and Eddie Lucio, Jr. (D-Brownsville) have filed several bills to enact a “Responsible Budget roadmap.”
“We have another chance to get it right,” said Ellis. “These bills help tackle our giant deficit but in a more reasonable and responsible way. They help eliminate the shortfall without the smoke and mirrors, protects our school kids and seniors and provides us firmer financial footing next session. “
The press release states that their budget framework calls for “elimination of tax loopholes (SBs 36 & 37), a constitutional amendment to allow a majority vote to tap Rainy Day Fund reserves for education investment (SJR 2, SB 39) to eliminate $4 billion in cuts to Texas school children and, enforces current tax law on all businesses required to pay sales taxes (SB 38).”
The Senators also called for a special Joint House/Senate Oversight Committee to review the business or “margins” tax and make recommendations to the 83rd Legislature. The business, or “margins tax,” simply did not raise enough revenue to offset property tax cuts and, according to the Texas Comptroller of Public accounts, will lead to a $10 billion shortfall every two years if we do not fix the tax, according to the Senators in the press release.
Click on link to review bill text of the bills discussed above (The bills have all been filed but not yet referred to committee):
SB36 – Relating to eligibility for the tax reduction for certain high-cost gas.
SB37 – Relating to the elimination of the tax exemption or reduction for certain high-cost gas.
SJR2 – Proposing a constitutional amendment authorizing an appropriation from the economic stabilization fund for education by a majority vote.
SB39 – Relating to the appropriation of money from the economic stabilization fund to be used for public education during the next state fiscal biennium.
SB38 – Relating to certain discounts and reimbursements allowed for payment of sales and use taxes and the allocation of certain revenue from those taxes.
For a complete copy of the press release: http://www.senate.state.tx.us/75r/senate/members/dist13/pr11/p060811a.htm