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Texas legislature passes tax cuts for businesses

Posted on May 28, 2013 by TRP

 texas

Texas lawmakers sent Governor Rick Perry more than $1 billion in proposed business tax cuts shortly before the end of the biennial legislative session on Monday.

The tax-cut package – the final piece of which was approved by the House and Senate late on Sunday – includes an extension of a business franchise tax exemption for small businesses and a rate cut for businesses of all sizes.

The Republican-majority legislature also approved about $300 million in electricity rebates.

Perry, a Republican, had called on lawmakers to pass tax relief for businesses. Thirty-five states are taking up tax reform in their current legislative sessions, according to a recent survey by the National Conference of State Legislatures.

MORE:   Texas legislature passes tax cuts for businesses | Reuters.

 

 


 

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