AUSTIN – Texas Public Policy Foundation's (TPPF) Talmadge Heflin, director of the Center for Fiscal Policy, and Economist Dr. Vance Ginn issued the following statements on House Bill 28. The bill, which passed the Texas House last night, would put the business franchise tax, commonly called the margins tax, on a path to elimination.
“We applaud the Texas House for passing HB 28 which uses surplus dollars for phasing out the business margins tax instead of growing government,” said Mr. Heflin.
“Passage of HB 28 by the Texas House is welcome news for Texans,” said Dr. Ginn. “Putting this failed tax on a path to elimination with surplus dollars instead of growing government is essential to sustaining the remarkable success of the Texas model.”
TPPF recently published “Consensus Building to Eliminate Texas’ Business Margins Tax” that highlights the tax revenue and economic effects that HB 28 and SB 17 could have had if previously enacted.
For more information or to request an interview with Mr. Heflin or Dr. Ginn, please contact Alicia Pierce at [email protected] or 512-472-2700.
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The Honorable Talmadge Heflin is Director of the Center for Fiscal Policy at the Texas Public Policy Foundation, a non-profit, free-market research institute based in Austin. In the 78th Session, Heflin served as chairman of the House Committee on Appropriations and navigated a $10 billion state budget shortfall through targeted spending cuts that allowed Texans to avoid a tax increase. 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. The Texas Public Policy Foundation aims to advance a societal framework that effectively fosters human flourishing based upon cooperation and mutually beneficial exchange of ideas and speech. Primary website: www.TexasPolicy.com Facebook page: www.Facebook.com/TexasPublicPolicyFoundation Twitter feed: www.Twitter.com/TPPF |