TX Senate Finance Committee Releases New School Finance Plan - KCBD NewsChannel 11 Lubbock

5/2/05

TX Senate Finance Committee Releases New School Finance Plan

Financing education in Texas could mean costlier cigarettes and alcohol.

The Senate Finance Committee unveiled its school finance plan Monday. It attempts to reduce school property taxes by $6 billion if voters approve a constitutional amendment allowing a state property tax.

The state sales tax would increase from 6.25% to 6.75%. The plan would also raise alcohol excise taxes 25%. The cigarette tax would increase by 60-cents per pack.

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