Sen. Jane Nelson Files Tax Relief Bills
Texas Insider Report: AUSTIN Texas Because of our economic success we have more than enough revenue to both meet our needs and provide for tax relief. Every dollar the government takes is a dollar someone has earned so we have an obligation to return some of those dollars to taxpayers whenever possible said State Sen. Jane Nelson chairwoman of the Senate Finance Committee as she filed SB 1 and SB 7 last week. Together the bills provide some $4 billion in tax relief during the 2016-2017 biennium by raising the homestead exemption to 25 of the home median market value and reducing the states Business Franchise Tax Rate by 15.
To view the press conference please visit the Texas Senates website <http://tlcsenate.granicus.com/MediaPlayer.php?view_id=30&clip_id=9141> .
Transportation Bills Advance
On Wednesday the Senate Transportation Committee approved SB 5 which Senator Nelson joint-authored to improve mobility in Texas. Transportation was designated as an emergency item by Governor Greg Abbott and Lt. Gov. Dan Patrick has signaled he will bring the bill to the Senate floor next week.
The bill would create a long-term permanent funding source for transportation by dedicating revenue above $2.5 billion a year in the motor vehicle sales tax to transportation.
The Senate Finance Committee also discussed funding for the Texas Department of Transportation during their agency budget hearings. Our base budget prioritizes funding for transportation by ending diversions and adding much-needed resources to jump start highway projects. We will continue to work this session to address our transportation needs said Nelson.
Senate Finance Committee Wraps Up Agency Hearings
The Senate Finance Committee finished hearing testimony from state agencies on SB 2 the Senates version of the state budget.
Over the last month the committee has heard from 171 state agencies who had $25 billion in exception item requests or requests for funds above their base budget.
Next week the committee will hear all bills related to tax relief.
To watch the hearings online please visit the Senates website
<http://www.senate.state.tx.us/avarchive/> .
