Monday, February 07, 2005

Potential revenue sources

Gambling debate heating up again
By: DAVE MICHAELS / The Dallas Morning News
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As budgetary needs pile up, the debate over video lottery terminals, a type of slot machine, has started in earnest. Lobbyists are pressing lawmakers to approve machines that would pour as much as $1.25 billion annually into state coffers and heavily subsidize purses at horse tracks. Other bills expected to be offered soon would allow for the creation of casinos in the state.





Business tax: What's fair is arguable
By CLAY ROBISON
Copyright 2005 Houston Chronicle Austin Bureau
>link

AUSTIN - The idea, as outlined by state leaders, may sound simple enough: Create a fair, broad-based business tax, preferably with a low rate, to help cut local property taxes and provide a new revenue source for public schools.

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"I think you will find strong opposition to that in the House," [State Rep. Sylvester] Turner said.

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Despite the obstacles, Allaway believes the Legislature will make significant tax changes this year in the face of growing public pressure and a court order to replace a school finance system that is largely funded by local property taxes.

To accomplish that goal, he said, the Legislature may have to offer businesses a "mixture of tax bases and some types of options." According to one suggestion, companies could be given the option of being taxed on their payroll or on their revenue, whichever was less.

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Under the broad outlines of a new tax plan endorsed by Dewhurst and all 31 senators, the franchise tax would be replaced with a broader-based business tax, which would raise about twice as much money, or about $3.5 billion a year.

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The new business tax would apply to partnerships, as well as corporations, while excluding sole proprietorships.

13 Comments:

At 1:45 PM, Anonymous Anonymous said...

Why hasn't anyone considered utilizing what the State of Texas already has????? Why not attract the other pari-mutuels. IE: Jai-alai and Harness Racing, to come to Texas and fulfill the promises that were made by the pari-mutuel industry?

Pari-mutuel profits are up (see TXRC Site). The addition of Jai-alai alone will bring the $1 billion annualy the State needs, without resorting to picking the peoples' pocket.

Professional Jai-alai is wanting to come to Texas.
See: www.Texasjai-alai.com

 
At 4:33 PM, Blogger Ned said...

Dick Armey says it all and says it well - http://www.freedomworks.org/newsroom/press_template.php?press_id=1286


The ‘wage tax’ they are considering imposing on the people of Texas is just a cleaver disguise for an income tax. If a wage tax passes, Texas would not only lose its status as one of only nine states in the country without an income tax, it would also seriously harm the economy.

“It’s impossible to believe that the leadership in the Texas legislature think they can increase spending by 14 percent, but make Texans believe they are cutting taxes. It is shocking to me – whether it is in Austin or Washington – to see conservatives buy in to the failed notion that we can tax and spend ourselves into prosperity.”

“The taxpayers elected the governor and gave the Republicans control of the legislature for the first time in 100 years because they pledged to control government spending and maintain our pro-growth tax system. Governor Perry and pro-growth members of the legislature should keep that pledge and stop the ‘wage tax’ in its tracks.”

 
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