Prop 4: Ban on a State Income Tax Really a Stealth Move to Undermine the State's Business Tax?
Early voting starts on the 21st. I'm voting NO on Prop 4. Here's why...
The proposed ban on a personal income tax that’s flying through the Legislature may also blow a hole in the state’s business franchise tax—a tax that Governor Greg Abbott has said he wants to put in “a coffin.” On Friday, Senator Kirk Watson, D-Austin, questioned whether the real purpose of the income-tax ban was to undermine the state’s business tax, calling the proposal a “stalking horse.” If Watson’s right, the state could lose billions of dollars in revenue and decrease the chances of property tax relief in the future.
Texas already has a prohibition on a state personal income tax in the form of a constitutional amendment—the so-called Bullock Amendment—passed in 1993
https://www.texasmonthly.com/politics/is-a-proposed-ban-on-a-state-income-tax-really-a-stealth-move-to-undermine-the-states-business-tax/?fbclid=IwAR0cOwA7bUbJVCbdW51jTLQykxcK1HpEG6RoBwvOVGkb_DenAKMg_BMAMNM
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Good for you getting the word out.
