Tagged: Texas sales tax

In order to curb the amount of debt owed by the Texas Department of Transportation, Sen. Kevin Eltife, R-Tyler, is proposing the state raise the sales tax by one-half cent.

"Over the past ten years a large part of funding for TxDOT projects has been done by issuing debt. TxDOT has outstanding debt exceeding $12 billion. If we continue down this path it will 2045 before all these bonds are paid off and it will cost the taxpayers about $28 billion including principal and interest," Eltife said.

The statewide totals for the amount of sales tax returned to local communities was on the plus side of $551 million and showed an overall 11 percent increase over Sept. 2011.

Comptroller Susan Combs said continued strength in the manufacturing and oil and natural gas sectors led to the increase, but consumer spending was also up in restaurants and retail stores.