Economic Issues Of Texas State Government

1609 WordsAug 16, 20167 Pages
Economic Issues of Texas Funding in Texas is an economic issue that has a variety of applications for the state government. There are many pros and cons about Texas state government, how it is being funded, and how it is funding other government ran programs. The influences that funding has is an economic issue that affects Texas’ society as a whole through taxes, budgeting, and in policies through state, or local government. The Taxation Model Description of Texas’ Taxes. Historically Texas’ political culture has been known to have a limited government. Texas’ minimum government involvement influences and supports Texas being known as a “low tax state.” Research by Tax Foundation states Texas is one of the seven states to adopt the no state income tax for residents; other states to embrace the no state income tax system are Alaska, Florida, Nevada, South Dakota, Washington, and Wyoming. Texas’ stance on no state income tax is a big motivating factor for families, and businesses to move to the area. Compared to other states in the nation Champagne, Anthony, (2015, January, 20) states “Texans paid 44.97 in state taxes for each $1,000 of personal income, ranking it 46th among the 50 states” (page 355). However, even though no state income tax sounds like an advantage, even a state like Texas has its pros and cons about its complex tax system. Local taxes can have a different tax model and local taxes can counterbalance state taxes. When looking at local taxes “Texas

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