If you live in the Texas Panhandle, you may have heard rumors of an amendment on the state ballot this November that, if it passes, would institute an Income Tax in the Lone Star State.
What’s more, you may have seen some posts on social media, warning of immediate paycheck deductions if you cast the wrong vote.
Don’t fret.As The Fort Worth Star-Telegram reports,Proposition 4 will not institute an Income Tax. In fact, Texas already has very strong protections preventing such a tax. This amendment would simply strengthen those protections.
If the proposition passes, it would require that two-thirds of each house of the Legislature vote for an amendment to allow a tax—and that, too, would have to win a statewide election.
But, in the small chance that the measure fails, that still wouldn’t mean anyone would be paying any new taxes. The current stiff protections against an income tax would remain in place.