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Sales tax revenues soar
Texas’ sales tax revenue jumped up more than 10 percent in July compared to the same month last year, Comptroller Susan Combs reported Friday.
The $1.8 billion comes from sales tax collected in June and sent to the state in July.
The state’s economic growth continues to buck the national trend. Across the country, states’ sales tax revenue has been generally flat in 2008, the Rockefeller Institute of Government said in July.
But Texas’ sales tax revenue is up 6.5 percent from the previous fiscal year, more than double the budgeted increase.
The growth has been driven by the oil and gas industry, non-residential construction and manufacturing, Combs’ spokesman Allen Spelce said.
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By Larrywp
August 8, 2008 10:47 PM | Link to this
Your right TaxPayer. What should happen now is everyone, especially the Legislature, should see that the FAIR TAX will bring in more revenue than all the other taxes put together. We can get rid of property taxes and all other taxes and just have the FAIR TAX.
By TaxPayer
August 8, 2008 8:39 PM | Link to this
This is just more money for the state to waste and no relief for us tax payers.
By Jade River
August 8, 2008 11:48 AM | Link to this
State sales tax is up but Austin’s is down. What does that tell you? Austin has become just to dang expensive.