Economic Populist For Governor
Issues Statement On School Financing
San Antonio - Homeowners throughout the state are screaming bloody murder over rising property taxes and rightly so. However, we must remember that more than half of all property taxes go to support our public schools. Therefore, the simplest and best solution to reducing the pressure on local schools to raise property taxes is to increase state aid to fund public education. Unfortunately for all of us, Gov. Greg Abbott too often fails to grasp that the best solution is often the simplest solution.
“To fund an increase in state aid to public schools’” Wakely said, “I am proposing that Texas place a carbon fee on the monthly production totals of crude oil, condensate and total oil, gas well gas, casinghead gas, and total natural gas. Not only will a carbon fee raise billions of dollars annually for state aid to public schools it also has the added benefit of helping curb rising global temperatures.
A Texas Carbon Fee (TCF) offers a number of solutions to a number of problems. First, is a very cost-effective method of reducing greenhouse gas admissions which contribute to global warming. Second, it will increase revenue to fund public schools while simultaneously reducing local school property taxes. Third, it will help facilitate Texas’s move away from a fossil fuels economy towards a renewal energy economy.
Under my proposal, the Texas Carbon Fee (TCF) is estimated to raise in excess of $6.5 billion a year. It would be split 80/20. Between households claiming a homestead property exemption and certain renters. For homeowners this would mean a reduction in their school property taxes by approximately $1,580 a year. In the event a homeowner’s school property tax bill is less than $1,580 the difference would be paid to them in the form a yearly dividend check. Renters would receive quarterly dividend checks of approximately $155 with renters defined as any household with income less than 400% of the poverty level.
If there is no efficiency in the oil & gas industry or if the industry decides to choose their shareholders over their customers, the average cost of gasoline could rise as much as $0.42 per gallon. There is also a direct correlation between higher gas prices and increased use of mass transit. The less cars on the road the better for Texas.”