The Texas State House of Representatives has voiced its opposition to a proposal that would impose a higher rate of US taxation on Bermudian and other non-US reinsurers.The proposal is included in President Barack Obama’s 2012 budget, is based on legislation introduced by US Congressman Richard Neal.The budget provision would effectively impose a tariff on the domestic affiliates of foreign-based insurers and reinsurers.HR 243, introduced by Texas State Rep. Charlie Howard passed unanimously on Friday and expressed strong objection to a tax on companies who provide a significant amount of insurance coverage in Texas and across the US.The Coalition for Competitive Insurance Rates whose members include the Association of Bermuda Insurers and Reinsurers welcomed the Texan stance.The proposed tax would increase the cost of insurance for US consumers, the Coalition argues.