Perry's Call for Tax Cuts Still Short on Details 1/9/13
January 9, 2013
AUSTIN, Texas (AP) - Gov. Rick Perry says the time has come for Texas to look at cutting taxes again. He's just not yet saying how.
Perry said Wednesday it's too early in the new session to pinpoint how the Texas Legislature might find tax relief. Lt. Gov. David Dewhurst also declined to mention specifics, but said everything from the business tax to property taxes was on the table.
The state's top Republicans defend the timing of tax-cut talk by pointing to a healthy state revenue forecast announced this week. Unlike the $27 billion shortfall the Legislature faced in 2011, a resurgent Texas economy has left $8.8 billion in unspent revenue in the current budget cycle.
Most of that money, however, is likely needed to pay a nearly $5 billion Medicaid tab.