AUSTIN—Today, the Texas Public Policy Foundation released the following statement on the announcement that the Governor, Senate, and House have reached agreements on funding education and cutting property taxes:
“The plan delivers on the promise to cut property taxes, fund education, and enact important reforms that will keep Texas the most prosperous state in the nation. TPPF applauds the extraordinary leadership of Governor Abbott, Lieutenant Governor Patrick, and Speaker Bonnen in working together to put the interest of Texans first. It is a strong plan that will lower the burden on taxpayers, improve educational outcomes, and protect and grow our economy,” said Executive Director Kevin Roberts.
“This package will provide Texans with real property tax cuts and help sustain them with local spending restraint,” said Senior Economist Vance Ginn. “More than $5 billion of taxpayer money goes toward property tax relief, meaning Texans will actually see their property taxes go down from year to year. Restraining spending at the local level to 2.5 percent growth will prevent property values from eating up the cuts in future years. The extra $500 million in projected revenue goes entirely to tax relief, and efficiency audits will protect taxpayers to make sure every hard-earned dollar is spent wisely. This is a plan that reflects the fiscal responsibility Texas is known for.”