AUSTIN – The Honorable Talmadge Heflin, director of the Texas Public Policy Foundation’s (TPPF) Center for Fiscal Policy and former chairman of the Texas House Committee on Appropriations, and TPPF Economist Dr. Vance Ginn, will testify before the Texas Senate Finance Committee TODAY, Wednesday, March 4, at 9:00 a.m. CST in room E1.036 of the Texas State Capitol. Mr. Heflin will focus his remarks on property tax reform and Dr. Ginn will testify on the elimination of the margin tax.
Immediately following the hearing, Mr. Heflin and Dr. Ginn will hold a media availability outside of room E1.036, where they will be joined by members of the Conservative Texas Budget Coalition.
“Rising property tax bills negatively affect all Texans by limiting investment decisions especially in home ownership, discouraging economic activity, and affecting employment creation putting much of the burden on low- and middle-income individuals,” said Heflin. “To eliminate these costs, the Legislature should abolish property taxes and replace the revenue with a reformed sales tax. In the meantime, I am highly encouraged that there is attention on providing property tax relief in SB1 and the associated SJR 1.”
“Texas has substantial funds available for the upcoming 2016-17 budget, making the 2015 legislative session the ideal moment in the state’s history to eliminate the costly, inefficient business margin tax without replacing it with another tax,” said Ginn. “This would free capital that businesses could use to invest and create new jobs and allow all Texans, particularly the working poor, to have greater opportunity to prosper. I applaud SB 105 that immediately eliminates the margin tax to get the biggest bang for the buck.”
WHO: The Honorable Talmadge Heflin, Director of the Center for Fiscal Policy, TPPF
Dr. Vance Ginn, Economist, Center for Fiscal Policy, TPPF
WHAT: Testimony before the Texas Senate Finance Committee & Media Availability
WHEN: TODAY, Wednesday, March 4, 2015
9:00 a.m. CST
Media Availability immediately following the hearing
WHERE: Texas State Capitol
Media Availability to take place outside hearing room.
More information about the hearing can be found at: http://txpo.li/1KevpZ3
To schedule an interview with Mr. Heflin or Dr. Ginn, please contact Caroline Espinosa at [email protected] or 512-472-2700.
The Honorable Talmadge Heflin is the Director of the Center for Fiscal Policy at the Texas Public Policy Foundation.In the 78th Session, Heflin served as chairman of the House Committee on Appropriations.
Vance Ginn, Ph.D. is an Economist in the Center for Fiscal Policy at the Texas Public Policy Foundation.
The Texas Public Policy Foundation is a non-profit, free-market research institute based in Austin, Texas.