Given high taxes are always and everywhere a spending problem, whichever path is chosen must be paired with limiting government spending and property tax reform to put limitations on tax increases of at most 2.5 percent by local tax jurisdictions. By combining property tax reductions and reform with spending limitations, Texas could shift to a more efficient and fair sales tax-dominated system. In this way, Texans can be assured meaningful, lasting property tax relief and an improved Texas Model that will sustain economic prosperity for generations.
An insider’s insight on today’s economy: Texas
Since the severe spring 2020 shutdown recession, Texas has been a leader in economic recovery. This includes reaching new record highs in total nonfarm employment for 7 straight months, leading exports of technology products for 20 consecutive years, and being home to 54 of the Fortune 500 companies. Fortunately, the 87th Texas Legislature supported the...