SAN ANTONIO, Texas -- State Representative Lon Burnam, D-Fort Worth, has submitted a bill to the Texas Legislature that would require Texans making more than $250,000 a year to start paying an income tax.
"This is an opportunity to not completely level, but level the playing field a little bit," Burnam said on Thursday afternoon during a phone interview with KVUE's sister station KENS in San Antonio.
Under his plan, people making between $250,000 and $500,000 a year would pay a 4 percent income tax; Texans earning between $500,000 and $1 million would pay a 5 percent income tax plus $10,000; Texans earning over $1 million a year would pay a 6 percent income tax plus $35,000.
Burnam says the money would be used to provide property tax relief for all Texas homeowners.
Texas is one of just seven states without a state income tax. However, Texas has the third highest property tax rate, behind only New Jersey and New Hampshire.
"I'm sure there are a lot of businesses here in Texas that are here because we don't have a state income tax," said Kim Ford, a certified public accountant.
Ford is the managing partner of Hill & Ford, P.C. in San Antonio.
"It seems to me like a double whammy on the high income individuals," Ford said. "With this Republican state we have, I just don't see how this is going to pass."
If the bill passes through committee, it would require a two-thirds approval of the state house and senate and the approval of voters.