Gov. Rick Perry proposes returning excess funds to taxpayers
Newscast Media AUSTIN, Texas—Governor Rick Perry gave his seventh State of the State address to the 83rd Legislature, in which he talked about developing a mechanism that allows the state to return unused funds to Texas taxpayers. The Texas rainy day fund has about $8.2 billion that has not been tapped. This emergency fund will soon have $12 billion.
“We’ve never bought into the notion that if you collect more, you need to spend more. Today, I’m calling for a mechanism to be put in place so when we do bring in more than we need, we’ll have the option of returning tax money directly to the people who paid it. Currently, that’s not something our constitution allows. We need to fix that,” Perry said.
“While Washington, D.C., can sometimes seem entirely non-responsive and is increasing the tax burden on Americans, and other states are scrambling to grab every tax dollar they can, I’m proud that in Texas, we’re talking about the best way to give money back,” Perry added.
Below is the video of Gov. Perry’s address: