Sleight of Hand
What to know: McAllen ISD wants voters to approve a $335 million bond proposal next month and to help ease cost concerns, the superintendent is telling voters that: “the district’s 93-cent tax rate will not increase if the measure is passed.”
The TPPF take: Taxpayers can still pay more even if the tax rate doesn’t increase.
“Debt-addicted ISDs often focus on tax rates instead of tax bills, in an attempt to fool voters about the actual cost of borrowing. But more and more Texans are becoming wise to these types of word games and sleights of hand,” says TPPF’s James Quintero. “Bottom line: More debt almost always brings higher taxes.”
For more on local taxes, click here.
Blockade
What to know: President Donald Trump says the U.S. Navy has now blockaded the Strait of Hormuz.
The TPPF take: In 1988, Iranian mines nearly sank a U.S. warship.
“Four days later, U.S. forces destroyed two Iranian oil platforms used for command and control, sank a frigate and gunboat, crippled another frigate, and eliminated armed speedboats,” says TPPF’s Chuck DeVore. “Iranian losses totaled 56 dead. American losses were limited to two Marines in a helicopter accident. The operation helped drive Iran to the peace table. That history resonates powerfully today.”
Fore more on Iran, click here.
Big Bonds
What to know: In May, Dallas ISD voters will decide on a proposed bond package that totals $6.2 billion.
The TPPF take: This is not a free-market system responding to student needs. It is a closed loop of incentives.
“The root of the problem is the Education Cartel—a network of consultants, vendors, and taxpayer-funded lobbyists who profit from ever-expanding school bond debt and bureaucratic growth,” says TPPF’s Brian Phillips. “This system has helped drive Texas school bond debt to more than $236 billion, a staggering burden ultimately borne by homeowners and families.”
For more on school bonds, click here.