Measure on the ballot in the 2023 Texas Consolidated General Election in Texas.
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Get StartedH.J.R. 132 would amend the Texas Constitution to prohibit the legislature from imposing a tax on the wealth or net worth of individuals or families. The prohibition would specifically cover a tax on the amount equal to the difference between the assets and liabilities of an individual or family.
A "YES" vote supports the adoption of Constitutional Amendment 3
A "NO" vote opposes the adoption of Constitutional Amendment 3
"Enshrining a tax policy ban in the Constitution strikes us as short sighted. Who's to say what Texas' economic outlook will be 30 years from now? It would be foolish to take it off the table entirely as new technologies, such as artificial intelligence, could further concentrate wealth in the hands of a tiny few." - Houston Chronicle Editorial Board, in opposition to State of Texas Proposition 3 (Learn more)
"A wealth tax has some economic attributes that are negative, in that it discourages investment and risk-taking that is necessary for sustained economic growth." - Ray Perryman, economist, in support of State of Texas Proposition 3 (Learn more)
"Hefner believes the 'people should have a direct say' on whether they should be subjected to a new tax. We agree, which is why if, years from now, a majority of future Texans want to impose a wealth tax, they shouldn't have to get two-thirds of each chamber to overturn a constitutional amendment to do so." - Houston Chronicle Editorial Board, in opposition to State of Texas Proposition 3 (Learn more)
"[The amendment] would allow the people of Texas to decide whether or not they want a direct say in the possibility of a net worth tax being imposed by the legislature." - State Rep. Cole Hefner, in support of State of Texas Proposition 3 (Learn more)
The constitutional amendment prohibiting the imposition of an individual wealth or net worth tax, including a tax on the difference between the assets and liabilities of an individual or family.
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