Journal of the Senate, Regular Session of the Seventy-Ninth Legislature of the State of Texas, Volume 1 Page: 63
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Two years ago, this saved Lubbock taxpayers from having to pay $2
million more in taxes. I think it is such a good idea that I asked Lubbock's
Mayor, Marc McDougal, and Councilman Boren to join us today in honor
of their fiscal restraint on the local level. Thank you for your leadership. I
look forward to working with you and Representative Isett to champion this
issue.
The fact is it's not a tax cut when your rate goes down if your total tax
bill goes up. Let's bring Lubbock's "Truth in Taxation" plan to every local
jurisdiction in Texas.
As we lower property taxes, we must all work together to find the right
mixture of new revenues without harming Texans' jobs. I join the leadership
of both houses in support of the concept of a broad-based business tax that
is fairly distributed, assessed at a low rate, and reflects our modem
economy.
When it comes to a business tax, most employers want you to keep it
simple, treat everybody fairly, and create protections so the rate is not easily
raised. This is vital to continuing our prosperity.
We should view this as a rare opportunity to modernize our tax system
and eliminate inequities. But just to be clear: The goal is to create greater
tax fairness, not a greater tax burden for the people of Texas.
With our vastly improved budgetary picture, we can provide new
money for education and real reductions in property taxes without
increasing the net tax burden on Texans.
Some say it can't be done. But if we can avoid a tax hike in the face of a
$10 billion shortfall, we can do it again in times of surplus. And I pledge to
work with you over these 140 days to get it done.
Today, I am submitting a budget that substantially increases
investments in jobs, public education, higher education, health care, and
protective services and that reduces spending at 60 percent of our state
agencies. And it provides a $2.3 billion cushion to close out the books on
this biennium and invest even more money in key priorities.
Some will argue we can't invest in jobs when we have so many human
needs. Those critics argue against themselves. To make long-term
investments in health care, education, and the social welfare, we need the
revenue generated by economic growth.
To date we have attracted more than 22,000 new jobs and $6 billion in
capital investment because of the visionary job creation tool you created last
session, the Texas Enterprise Fund.
We are in stiff competition for these jobs. Sometimes we lose, such as
when we made a $45 million offer to bring jobs to the Rio Grande Valley.
But we've had more than our fair share of victories because I have two
strong negotiating partners in Governor Dewhurst and Speaker Craddick.Wednesday, January 26, 2005
SENATE JOURNAL
63
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Texas. Legislature. Senate. Journal of the Senate, Regular Session of the Seventy-Ninth Legislature of the State of Texas, Volume 1, legislative document, 2005; (https://texashistory.unt.edu/ark:/67531/metapth123807/m1/69/: accessed May 2, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.