Senate Finance Committee Discusses State Revenue System
October 29, 2014
Senator Jane Nelson today presided over a Senate Finance Committee hearing focusing on Texas' revenue and tax system. The committee heard a presentation from the Comptroller's office and discussed major sources of state revenue including the sales and franchise taxes as well as an overview of the property tax system.
"In addition to producing jobs and opportunities, our strong economy is producing the revenue necessary to fund education, transportation and other priorities. We are approaching next session with healthy revenue forecasts, and that's a good thing because it will allow us to meet our growing needs," said Senator Nelson. "However, we need to be ever mindful that every dollar we spend represents a dollar that was hard-earned by a taxpayer. We need to look carefully at our revenue streams to ensure that we only take in what we truly need and that we protect our successful economic environment."
This was the last hearing of the Senate Finance Committee before the Legislative session. "Thank you to all members of the committee, as well as the other Senators who have joined us, not just today but for any of our hearings this interim," said Senator Nelson. "I look forward to working next session as we craft a budget that will not only meet our needs, but protect our success."