Perry Unveils School Funding Proposal


3-29-06 - Governor Rick Perry today recommended a school-funding plan that would give Texas homeowners a property tax break. That break would be paid for by taxes on smoking and business.

The plan aims to raise almost $6 billion for the state's public school budget. The new money would offset losses from giving homeowners a 1/3-school property tax cut. Most of the proposed new tax money comes from a restructured business tax. That would generate an estimated $4 billion dollars.

The cigarette tax would increase by a dollar from $0.40 to $1.40 per pack. That would bring in about $800 million. The plan crafted by the Texas Tax Reform Commission also uses $1 billion from a state budget surplus of more than $4 billion.

The recommendation is a starting point for the Legislature when it convenes April 17th for a 30-day special session to rework school finance.


Sherman 4201 Texoma Pkwy (903) 892 -8123 Ardmore 2624 S. Commerce (580) 223-0946
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 2543466