A sound tax system is simple to understand, not overly costly to implement, and minimizes economic distortions. Compared to other states, Texas’ current tax system can be improved by repealing property taxes and replacing the revenues with a reformed sales tax.
Taxes & Spending
Bigger in Texas: Sizing Up the State’s Finances
Every even-numbered year, the state’s Legislative Budget Board (LBB) publishes a helpful, user-friendly summation of the General Appropriations Act (GAA), otherwise known as the state’s two-year budget. On Wednesday, the LBB published the next iteration—its 2024-25 Fiscal Size-Up. From a 30,000 ft. level, this new report provides “a comprehensive review of how tax dollars were...
August 2, 2024