Texas Legislature 2016-17 Budget Comparison
Today, the Texas Senate passed their version of the Committee Substitute for House Bill (CSHB) 1, otherwise known as the 2016-17 budget.
Today, the Texas Senate passed their version of the Committee Substitute for House Bill (CSHB) 1, otherwise known as the 2016-17 budget.
With the end of the 2015 Legislative Session quickly approaching, there is no clear tax cut package that will prevail. We’ve shown in a recent study the substantial economic gains in prosperity and job creation from eliminating the margin tax.
"Testimony: Economic Benefits of Cutting the Margin Tax" includes Dr. Vance Ginn's testimony before the House Ways and Means Committee in support of Committee Substitute House Bill 32.
It’s terrific that at this stage of the budget process state officials are discussing how much to return to taxpayers where it belongs relative to how much more they can spend.
Even with a relatively strong economy and fiscally conservative state government during the last decade, there is room to improve Texas’ stance as the model for individual liberty and economic prosperity.
Instead of cheering lower gasoline prices, the buzz is the decline in oil prices will lead to a 1980s-style recession and demise of the Texas model’s success.
The U.S. Bureau of Labor Statistics and the Federal Reserve Bank of Dallas recently provided evidence of continued job creation in Texas, but noted that the pace moderated recently from lower oil prices and an appreciating U.S. dollar.
Recently, the U.S. Bureau of Labor Statistics released the Regional and State Employment and Unemployment Summary for February 2015. Let’s recap the highlights from the report for the states with the largest populations and economies. In February, net nonfarm job creation in Texas slowed to 7,100 compared with the 2014 average of 33,950 per month...
Texas continued as one of the nation’s leaders in job creation with 357,300 jobs added in the last twelve months through February. The exemplary 3.1 percent rate of job creation in Texas during that period contributed to a drop in the state’s unemployment rate to a seven-year low of 4.3 percent.
"Testimony: Teachers Win with School Choice" includes Dr. Vance Ginn's testimony before the Senate Education Committee in support of SB 276.
Texans should no longer have to endure the burden of the margin tax. Lawmakers should provide meaningful, lasting tax relief while unleashing an even larger wave of economic growth by funding essential government services within population growth and inflation, then use all available funds to buy down and eliminate the margin tax.
By creating net nonfarm jobs to the tune of 369,400 in 2014, Texas has continued to add jobs faster than those entering the labor force.