Failures of the margins tax and calls by Texans and legislators to eliminate it have resulted in multiple studies that examine the economic effects of accomplishing this. Although these studies use different research methods and time periods, the overarching conclusion is that Texas would prosper more without the margins tax. Eliminating the margins tax will assure that billions in new personal income and tens of thousands of new jobs for Texans statewide are not lost.
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