This came out last month, a little before some of the recent angst about the business margins tax hit the news. It's not something we haven't heard before, but it's definitely something we need to hear again.
The quality of life in Texas depends on our producing a well-educated workforce that can meet the demands of a global economy. A strong and vibrant public education for all Texas children is an essential precondition for a prepared workforce and a prosperous, competitive economy. In fact, providing public education is one of the constitutionally mandated charges of the state legislature. However, the state's current revenue system is not providing adequate funding to fulfill this charge. Adding a personal state income tax to our tax mix is the best way to meet our needs.
Only a personal income tax can significantly reduce reliance on property taxes - cutting the school operations tax from $1.00 to 10 cents per $100 of property value - while providing adequately for education - $7 billion in new revenue annually. Alternative tax proposals are not able to reduce property taxes as much or fund public education as well. An income tax would reduce taxes on most Texans, including the middle class, and benefit the economy.