Tax Policy Center

Texas

State and Local Issues: TaxVox
Like most states, Colorado and Texas do not have legislative or gubernatorial elections in 2019. Still, their voters are facing tricky, and potentially far-reaching, tax...
October 28, 2019Richard C. Auxier
: TaxVox
Texas Governor Greg Abbott says “no” to a tax break for big corporations. The Republican just vetoed a bill aimed at expanding a tax incentive for wind farms and petrochemical firms along the Gulf Coast. Subsidy backers claim it helps the firms generate jobs, but Abbott doesn’t think it’s worth the
June 22, 2015Renu Zaretsky
: Daily Deduction
Did Jeb Bush promise his own tax reform? Kinda. With many other GOP presidential hopefuls vowing bold tax reform, observers were wondering whether the former Florida governor would follow suit in yesterday’s announcement speech. He didn’t. Instead, he merely pledged to “think big,” and promised “a
June 16, 2015Renu Zaretsky
: TaxVox
Everything is bigger in Texas, except tax relief for its low-income residents. Tax cuts are a sure bet in the Lone Star state this year, but it’s hard to provide tax relief to everybody without a state income tax. TPC’s Richard Auxier explains that Texas’ reliance on sales and property taxes makes
May 7, 2015Renu Zaretsky
State and Local Issues: TaxVox
Texas is cutting taxes this year. Although we do not yet know exactly what will get cut because the House and Senate are sorting out competing bills , we already know the outcome: Better-off Texans will get more tax relief dollars than low-income residents of the Lone Star State. Why? Because Texas
May 6, 2015Richard C. Auxier
: Daily Deduction
Will cuts to a state’s top income tax rate boost growth? Not necessarily. In a new TPC paper , Bill Gale, Aaron Krupkin, and Kim Rueben find little evidence linking state-level economic growth and taxes, especially income tax policy. Neither tax revenues nor top income tax rates have a steady
May 4, 2015Renu Zaretsky
: TaxVox
The GOP calls for Affordable Care Act repeal in its budget resolution. The 10-year plan would cut planned spending by more than $5 trillion, retain the $1.017 trillion sequestration budget ceiling for 2016, and increase off-budget military spending. It would also use budget reconciliation to try to
April 30, 2015Renu Zaretsky
: Daily Deduction
The GOP House passes its budget. It promises to balance the books within 10 years by cutting spending by $5.4 trillion. Cuts include $2 trillion from repeal of the Affordable Care Act, $1 trillion from Medicaid and the Children’s Health Insurance Program, and $1 trillion from other unspecified
March 26, 2015Renu Zaretsky
: TaxVox
High-income households can worry even less about being audited this year. Last year, the IRS audited just 7.5 percent of households earning more than $1 million in 2013. That’s the lowest share since 2009 . Its overall individual audit rate was 0.86 percent, the lowest since 2004. The IRS budget
February 25, 2015Renu Zaretsky
: TaxVox
Can a state tax all of the income of its residents, wherever it is earned? The US Supreme Court heard oral arguments yesterday in Comptroller v. Wynne . A decision will answer whether residents of one state are liable for taxes on income earned in another state, even if that income has already been
November 13, 2014Renu Zaretsky