May 15, 2006
The Honorable Rick Perry
Governor, State of Texas
Capitol Building, Room 2S.1
Austin, Texas 78701
Dear Governor Perry:
The Legislature is concluding its work on your tax plan. Your plan is fiscally irresponsible -- it includes an uncons utional income tax on partnerships and unincorporated associations, the largest tax increase in Texas history and leaves the largest hot check in Texas history. ...
... your plan simply does not pay for itself... As of this moment, this legislation is a staggering $23 billion short of the funds needed to pay for the promised property tax cuts over the next five years.
In 2007, your plan is $3.4 billion short; in 2008 it is $4.3 billion short; in 2009 it is $5.4 billion short; in 2010 it is $4.9 billion short; and in 2011 it is $5 billion short. These are conservative estimates. [emphasis author's-RG]
...
At worst, it will relegate Texans to Draconian cuts in critical areas like education and health care for at least a generation...
The gap is going to continue to grow, year by year. There are only two ways to close a chasm of that magnitude -- future tax increases that you are hiding from Texans now or massive cuts in essential state services -- like public education...