Texas House Approves Tax Restructuring Bill - KCBD NewsChannel 11 Lubbock

3/15/05

Texas House Approves Tax Restructuring Bill

If the Texas House has it's way, you'll be paying for public education out of your pocket every time you make a purchase. Tuesday, the House gave final approval to a $10.8 billion tax restructuring bill.

The bill includes:

  • A state sales tax increase from 6.25% to 7.25%
  • An additional sales tax to billboard advertising, bottled water, car washes and auto repair.
  • An increase in sales tax on auto and boat sales and rentals.
  • A 3% tax snack would be created on soft drinks, chips and cookies.
  • Businesses would also be forced to pay either the current franchise tax or a new payroll tax.

In exchange for these taxes, homeowners would see their property taxes decrease by a third.

House Representative Carl Isett voted for House Bill Three while Representative Delwin Jones voted against it.

Governor Rick Perry was in Lubbock Tuesday, and NewsChannel 11 asked his thoughts on the bill. "It's a good start is the appropriate terminology, we're a long way from a finished product," Governor Perry said.

The bill now moves to the Senate where it's expected to get some changes.

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