Texas Lawmakers, Gov. Abbott Champion 1-Percent Sales Tax Hike
NORTH TEXAS (CBSDFW.COM) - Leaders of the Texas Legislature and Governor Greg Abbott aim to drive down property taxes.
They are backing a plan to raise sales taxes by 1 percent in an effort to then reduce the taxes.
Gov. Abbott, Lieutenant Governor Dan Patrick and Speaker of the House Dennis Bonnen today released the following joint statement:
"Texans are fed up with skyrocketing property taxes. At the beginning of the legislative session, the Governor, Lt. Governor and Speaker laid out an agenda for property tax relief through the passage of Senate Bill 2 and House Bill 2 to limit property tax growth. In addition to that effort, today we are introducing a sales tax proposal to buy down property tax rates for all Texas homeowners and businesses, once Senate Bill 2 or House Bill 2 is agreed to and passed by both Chambers. If the one-cent increase in the sales tax passes, it will result in billions of dollars in revenue to help drive down property taxes in the short and long term."