American Airlines is asking the Fort Worth City Council to approve tax breaks if the airline builds an $88 million operations center on land near its headquarters. American wants a break on up to 85-percent of the first year’s taxes on the property.
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.