State Budget and Taxation Task Force
Objective: TCCRI’s 2015-16 State Budget and Taxation Task Force will lay the groundwork for additional tax relief and reform, including:
- Making the case that continued tax reductions and controlling the growth of spending are the key to continued economic prosperity.
- Developing a proposal for a conservative state budget for the 2018-19 biennium that includes continued tax relief while also meeting the state’s core responsibilities.
- Long-term systemic reforms such as a review of the state’s constitutional spending limit, public sector workforce reforms, and changes to the use of Economic Stabilization (Rainy Day) Fun, among other possibilities.
Topics: Franchise tax, property taxes, the state budget, and economic incentive programs.
Overview: Notable successes of previous State Budget and Taxation Task Forces include the 25 percent reduction in the franchise tax that was enacted by the 84th Legislature, as well as balancing the 2012-13 state budget without raising taxes. The 2015-16 State Budget and Taxation Task Force will build on these successes by continuing to advocate for reduction and elimination of the franchise tax, as well as other reforms to bring relief to property tax payers.
Ensuring that continued tax relief is possible requires a clear and convincing demonstra-tion that this is achievable while also meeting the state’s obligations in areas such as public education, health care, and transportation infrastructure. To that end, the Task Force will develop a blueprint for a conservative budget that illustrates both the capacity for tax relief and funding of the state’s core responsibilities. As part of this process, the Task Force will initiate discussions of the relative cost-benefit of programs ostensibly serving the same purpose (e.g. economic development) to see if state funds can be reallocated for better e?ect and which align with conservative principles and values.