Business Tax Bills Head To State House Floor
AUSTIN (AP) - Gov. Rick Perry says the Texas Legislature must pass tax relief, and Texas House Republicans are ready to try.
The House is scheduled Friday to debate one of the biggest business tax bills this session. The measure by Republican state Rep. Harvey Hildebran would permanently extend a $1 million exemption under the state franchise tax.
Democrats this week began raising concerns about the impact Hildebran’s proposals would have on revenue.
Perry has warned lawmakers that he won’t sign a new state budget unless it came with tax cuts. He has proposed a $1.6 billion cut in business taxes.
Last month, Perry called for a 5 percent reduction in business tax rates.
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