The Texas House will begin slowly and selectively whittling down the state business tax this week, as Republicans work to make good on a promise to cut taxes.
In one of their final joint appearances, Texas Senators Kay Bailey Hutchison and John Cornyn said they hope to avoid going over the so-called “fiscal cliff”. The pair made their statements on Monday before 1,000 members of the Dallas Citizens Council.
The Texas Legislative Budget Board has recommended a policy swap to put the state’s comptroller, not local school districts, in charge of negotiating school property tax breaks for businesses.
The US Senate cleared a key hurdle Tuesday toward passage of a bill endorsed by President Barack Obama to provide billions in aid and tax breaks for small businesses hurt by the struggling economy.