Vince, over at Capitol Annex, has written a lengthy post detailing the pieces of legislation introduced during the current special session.  He details each of the proposed bills, and gives his take (on a 1-10 scale) as to the chances each has of passing.

Thus far, my favorite bill is HB26:

HB 26 (Burnam): Relating to the imposition of an income tax on income that exceeds $100,000 to provide property tax relief and fund public education; providing penalties.

I think this would be the first income tax ever proposed that would only affect the “rich”.  Although technically $100,000/yr isn’t rich (it’s considered upper-middle class), it’s still a high cap for such a piece of legislation.  Essentially what this proposal would do is establish an income tax for any individual whose income exceeded $100,000, with all such money (from tax) dedicated to property tax relief and public education.

Unfortunately, Vince raises a valid point.  He rates this bill as a 1 out of 10 chance of passing.  Why?  “Texas is too tax phobic.”

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