CBS 11 Header TXA 21 Header MeTV Header KRLD Header The Fan Header
CBS DFW WEATHER APP: iPhone App Store | Android App Coming Soon | More Information

Business

Gov. Perry Calls For $1.6B In Business Tax Cuts

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up

From Our CBS Music Web Sites

494849761 10 Gov. Perry Calls For $1.6B In Business Tax CutsCelebrating National Underwear Day

465887719 Gov. Perry Calls For $1.6B In Business Tax CutsFacebook Users – Beware The App!

 alt=JLo Shows Off Her Best Assets In New Cover

904255 10 Gov. Perry Calls For $1.6B In Business Tax CutsRemembering Robin Williams

 alt=Musicians Then And Now

Fantasy_tile

VOTE: Best Coaches In American Sports

AUSTIN (AP) – Gov. Rick Perry is backing $1.6 billion in business tax cuts, even though he concedes it may mean tapping Texas’ once-untouchable cash reserves.

During a Monday visit to the Austin Chamber of Commerce, Perry said close to 100,000 businesses could see lower taxes under his plan.

He added it may be necessary to finance the cuts using the state’s Rainy Day Fund.

That was a dramatic departure from two years ago, when Perry — looking to solidify his tea party credentials as he prepared for an unsuccessful presidential run — said the reserve funds shouldn’t be touched under almost any circumstances.

Perry opened Texas’ legislative session urging the use of a surplus of funds sparked by the state’s booming economy on “tax relief.”

Those cuts haven’t materialized so far.

(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

Also Check Out:

Follow

Get every new post delivered to your Inbox.

Join 42,300 other followers