AUSTIN – Brooke Rollins, President and CEO of the Texas Public Policy Foundation, today issued the following statement on the tax cuts and fiscal priorities under consideration in both houses of the 84th Texas Legislature:
"The Texas Public Policy Foundation is tremendously encouraged by the movement toward significant tax cuts in both houses of the 84th Texas Legislature. Though the work on these cuts is not yet finished — nor will it be until the full work of the legislature is done — we nevertheless believe that they are, as presently conceived, based upon eminently sound and sensible principles of conservative governance.
"These principles include, first and foremost, the idea that the people's money belongs with the people — and that therefore the first task of responsible government is to ensure that it takes as little as possible. Texas’ state and local governments are collecting billions more in taxes than expected, showing that the Texas economy is strong — but also showing that Texas taxes too much.
“Over-taxation is driven and encouraged by over-spending. Consider that Texas’ biennial budget today stands at $204 billion: approximately $7,500 for every Texan man, woman, and child. A decade ago, in 2004-05, the Texas budget was $124 billion. In other words, Texas state-government spending has increased 13.4% faster than population growth plus inflation, at a cost of $24 billion to Texas taxpayers. Texas' future prosperity depends on reducing taxes so that revenues sustain the government we need, rather than spending every available dollar to fund the government that special interests want.
"The Texas House and Senate, and their leaderships, appear to understand these principles and realities — and this Foundation is immensely supportive of their efforts to do the right thing first. When we build and secure a Texas that is prosperous and strong, we reinforce, revive, and restore our homes, our communities, our neighborhoods, and our families."
Brooke Rollins is president and CEO of the Texas Public Policy Foundation.
The Texas Public Policy Foundation is a non-profit, free-market research institute based in Austin.
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