April 28, 2004
FOR IMMEDIATE RELEASE

Texas House Proposes $17.9 Billion Tax Plan. Eight days into the special session called for school finance reform, Texas House leaders have presented a tax plan proposal that raises $17.9 billion in new taxes, while cutting school property tax and eliminating the "Robin Hood" plan. The additional revenue comes from a dramatic expansion of the sales tax to include most services, elimination of certain sales tax exemptions, an increase in state sales tax from 6.25% to 6.5%, and a uniform state property tax, among other things.

If you have any questions regarding this information, please call Mr. G. Brint Ryan, Managing Principal of Ryan & Company, at 972.934.0022. Mr. Ryan can also be reached by e-mail.

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