Press Release Summary = AustinVoter.com opposes the new Business Tax Plan proposed by the Sharp commission. With and $8B surplus, Texas does not need new taxes.
Press Release Body = FOR IMMEDIATE RELEASE 4/27/2006
AustinVoter.com (www.austinvoter.com) Opposes Sharp Tax Plan
AustinVoter.com opposes the new Business Tax Plan proposed by the Sharp commission. With and $8B surplus, Texas does not need new taxes. This new business tax would likely harm small business and the Texas economy as a whole.
Austin, Texas - 4/27/06
The $8B+ surplus allows the state to give needed property tax relief and deal with this year\'s school finance issues without raising any more taxes. That surplus belongs to the people and not the politicians. As such it should be returned to the taxpayers in the form of property tax relief.
The surplus also gives the legislature more time to study the potential impact of the new tax plan. In its current form, the Sharp plan might be a small business killer. The tax is based on business revenue and NOT profit. As such small businesses that are struggling to get off the ground will have to pay taxes even though they are not making any profit. This additional tax burden could be the additional expense that forces many a small business out of business.
A new tax and new tax revenue is more likely to be spent by the politicians and grow government rather than reduce the overall tax burden of Texans. A simple reduction in the property tax rate will not ensure lower taxes for Texas property owners. Appraised values increase every year which erases any reduction in the actual taxes paid. Without an appraisal cap, property taxes will continue to rise. Current legislation does not protect that taxpayer or provide permanent property tax relief. Without that assurance and with and $8B surplus it is unwise to enact a sweeping new business tax.
2025
