A Texas constitution amendment will allow voters to decide over net worth taxes.
Voters Will Decide the Imposition of Net Worth Taxes Following Texas Constitution Amendment
Following the Texas constitution amendment, voters will have the power to decide whether to impose net worth taxes or not and prohibit any involvement of legislation over the taxes.
Before sending the Texas constitution amendment to the November ballot, eight other states had already introduced and implemented wealth tax legislation: Connecticut, Minnesota, Hawaii, California, Washington, Illinois, New York, and Maryland.
According to reports from The Center Square, Texas already has a state constitution allowing voters to decide whether to approve the state from levying a personal income tax, just like how the current Texas constitution amendment will work.
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Texas Constitution Amendment Receives Mixed Reactions from Several Organizations
The Texas constitution amendment received support from the Republicans and some Democrats, who joined the majority of approval votes.
Despite the approval of the Republicans and Democrats, several federations and organizations expressed their opposition to the Texas constitution amendment, including the Texas American Federation of Teachers and Every Texan.
Aside from the Texas constitution amendment allowing voters to decide regarding the imposition of net worth taxes, 297 other constitutional amendments were reportedly filed during the session.