March 08, 2005
HB2 will raise your taxes

Remember how I said that "revenue neutral" can still mean winners and losers, and that there could be more losers than winners? Take a look at this document (PDF) from the Legislative Budget Board. Every family taking in less than $100,000 per year in Texas will pay more in taxes under House Bill 2, with each lower decile paying more on a percentage basis than the ones above it. Over 90% of the total tax savings - some $400 million in all - will go to households making over $140,000 per year. And all this without putting in extra money for education. Who, exactly, is this supposed to benefit?

What an utter travesty. More on the HB2 debacle from Andrew D, Lasso, Postcards from the Lege, In the Pink Texas, and PinkDome.

Posted by Charles Kuffner on March 08, 2005 to Budget ballyhoo | TrackBack