State Of The State: Perry Proposes Returning Excess Taxes

Gov. Rick Perry called Tuesday in his State of the State Address for a constitutional amendment to allow the state to return to taxpayers tax money it collects but doesn


AUSTIN, Texas (January 29, 2013)--Gov. Rick Perry called on lawmakers Tuesday to amend the Texas Constitution to allow the state to return to taxpayers tax money it collects, but doesn't spend.

In his State of the State speech on Tuesday, Perry said there is currently no method for returning tax revenue to citizens.

About 64 percent of state revenues come from sales tax, so it's not clear how money could be returned proportionately.

Perry also called for end to accounting tricks to balance the state budget.

He said he wants to tap the Rainy Day Fund to spend $3.7 billion on critical water and transportation systems in the state.

Perry said there is more money in the fund than is needed, and that the state should not accumulate any more.

He said tapping the fund for a one-time investment in infrastructure was needed to ensure a high quality of life.

Perry also called to use road funding only on transportation projects.

The Republican has for weeks called on the Legislature to cut taxes and continue to hold down government spending even though Texas' economy is booming.

He also called for $1.8 billion in tax relief and said how to do that was still open for consideration.

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