Lt. Governor David Dewhurst Announces Appointments to Business Tax Advisory Committee
OFFICE OF THE LIEUTENANT GOVERNOR DAVID DEWHURST
AUSTIN (08/08/2008)- Lt. Gov. David Dewhurst today announced the appointments of Sen. Steve Ogden (R-Bryan) and Sen. Kirk Watson (D-Austin) to the Business Tax Advisory Committee, effective immediately.
"Chairman Ogden's budget expertise and vast knowledge of the state's tax system will make him a strong leader and invaluable resource for this important committee," said Lt. Governor Dewhurst, "and in addition, as a former mayor, Senator Watson understands how our state's tax system impacts businesses and citizens and will bring that critical perspective to this committee."
The Business Tax Advisory Committee was created in House Bill 3928 passed by the 80th Legislature. The committee will conduct a biennial study of the effects of the franchise tax on businesses in Texas. The committee is composed of the comptroller, who is the presiding officer, two members of the senate appointed by the lieutenant governor, two members of the house appointed by the speaker, and at least seven other members appointed by the comptroller. The committee is required to issue a report to the governor, the lieutenant governor, and then speaker of the house by the beginning of each regular session of the legislature. The committee expires January 31, 2013.
Sen. Ogden is Chairman of the Senate Finance Committee and also serves on the Senate Education Committee and Senate Veterans Affairs and Military Installations Committee.
Sen. Watson is Vice Chairman of the Senate Transportation and Homeland Security Committee and also serves on the Senate Business and Commerce Committee, Senate Jurisprudence Committee, Senate Nominations Committee and Senate Subcommittee on Emerging Technologies and Economic Development.
The Trans-Texas Corridor and TxDOT
LETTER SENT TO COUNTYJUDGES IN "I-69" TTC STUDY AREA
(03/03/2008)- The current round of hearings regarding the I-69 portion of the Trans-Texas Corridor, which are required by federal rules, have given our constituents the opportunity to voice their opinion on this project. I want to share with you my position on this controversial matter.
In the 2007 Legislative Session, I tried hard to limit the scope of the Trans-Texas Corridor and eliminate some of the features I find most troublesome. My bill requiring the Texas Department of Transportation (TXDOT) to use the existing Texas Highway Trunk System as the route for the Trans-Texas Corridor whenever possible was vetoed by Governor Perry. I also authored a bill to prohibit individuals or nongovernment entities from having an interest in our state highways, but it failed to pass. I was able, however, to include instructions - or riders - to TXDOT's budget mandating full disclosure, accurate financial reporting, and additional oversight of Trans-Texas Corridor projects.
I am not opposed to all toll roads because they are appropriate in many cases. When toll roads are implemented, however, I support removing the tolls once the road is paid for. I do not think existing roadways should be tolled, nor do I think toll roads will work in rural Texas. In short, I have many of the same problems with the Trans-Texas Corridor that my constituents do.
As Chairman of the Senate Finance Committee, I will not support funding of TTC I-69 unless my concerns and the concerns of many of our constituents are satisfactorily addressed.
OP-ED BY SENATOR OGDEN, SENT TO NEWSPAPERS IN SENATE DISTRICT 5
BRYAN (03/19/2008)- Recently, the Texas Department of Transportation (TxDOT), in its effort to address the highway construction needs of our state, has alarmed many in the Legislature and many more in my district. This is counter-productive and unnecessary. I want to report to you what can be done to get things back on track.
TxDOT is not "out of money" and can lift its current moratorium on new construction by selling $1.5 billion of voter-approved bonds. Concerns have been raised on repayment of this large sum of money. In response, Lt. Governor David Dewhurst, House Speaker Tom Craddick, House Appropriations Chairman Warren Chisum, and myself as Chairman of the Senate Finance Committee recently wrote a letter to TxDOT Chairwoman Hope Andrade. We informed her that $300 million has been appropriated to TxDOT for debt service and committed to increase funding for TxDOT in the next biennial budget.
Last November, Texans overwhelmingly approved another $5 billion in general obligation bonds for highway improvements. During the next session, which begins in January, the Legislature will pass a bill authorizing TxDOT to sell these bonds and use the proceeds for new road construction.
Later this month, the Senate Finance Committee will examine additional financing methods. Specifically, I want to explore the possibility of investing a portion of our state's trust funds (i.e., Employees Retirement System, Teachers Retirement System, Permanent School Fund, Permanent University Fund) in TxDOT toll projects. The argument for this is straightforward. If it is such a great idea for foreign companies to invest in and profit from our roads, why isn't it a good idea for our retired teachers and state employees to invest their trust funds in and profit from these roads?
These same trust funds currently make large investments in real estate and infrastructure outside of Texas. I think some of this money should be invested in Texas and that this would be a "win-win-win" situation. Roads will be built, the trust funds will get a guaranteed return on their investment, and the toll revenue would benefit public education in Texas.
The problem of financing the construction of new Texas roadways can be solved. The solutions that I propose do not require new taxes, sales to private concerns, or destruction of the countryside with Trans-Texas Corridors a thousand feet wide. Let's stop arguing and get to work on solutions that Texans will support.