Texas's top lawmakers managed to put together an $11.5 billion package, but they did it in a way that all but guarantees a tax hike in 2021.
The Big Three are desperate to save their property tax proposal. Among the ideas to buy down property taxes is an increase in the oil and gas severance tax.
The wealth the Texas House and Senate want to share is expensive but small when spread statewide.
In my post after the debate, I wrote that Debra Medina, in advocating eliminating all property taxes and replacing them with the sales tax, had failed to address the issue of regressivity of the sales tax. That is not quite accurate. As a commenter pointed out, she did address it…