Texas Public Policy Foundation’s Economist Dr. Vance Ginn will testify before the Texas House Ways & Means Committee TOMORROW, March 29, at 8:00 a.m. CDT in room E2.012 at the Texas State Capitol. Dr. Ginn will testify in favor of House Bill 28, relating to the use of certain surplus state revenue to phase out the franchise tax, commonly called the margins tax.
“According to measures of economic competitiveness, the business margins tax has been a failure and should be eliminated as quickly as possible,” said Dr. Ginn. “Our research finds that Texas could gain $16 billion in new personal income and create 130,000 new private sector jobs above normal growth within five years after ending this onerous tax. HB 28 would help put this tax on a path to elimination and set Texas as an example without a general business tax for other states and D.C. to follow.”
| WHO: |
Vance Ginn, Ph.D., Economist, Center for Fiscal Policy, TPPF |
| WHAT: |
Testimony on eliminating margins tax, Texas House Ways & Means Committee |
| WHEN: |
TOMORROW, Wednesday, March 29, 2017 |
| WHERE: |
Room E2.012 |
More information about the hearing can be found at:http://www.legis.state.tx.us/tlodocs/85R/schedules/pdf/C4902017032908001.PDF.
TPPF research on the topic can be found online at the following:
- Failures of Texas’ Business Margins Tax
- Unleashing Economic Growth: Eliminating Texas’ Business Margins Tax
For more information or to request an interview with Dr. Ginn, please contact Caroline Espinosa at [email protected] or 512-472-2700.
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.
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