My most recent article for The Dallas Morning News is about how Texas lawmakers plan on handling tax issues in the upcoming legislative session.
Lowering taxes is a common GOP policy goal, but the actual proposals differ dramatically.
The extremes:
- State senator Jane Nelson (R-Flower Mound) filed a bill that would reduce the franchise tax rate by 2.5% per year if the state’s comptroller certifies there are available funds over the biennial revenue estimate.
- State senator Craig Estes (R-Wichita Falls) filed a bill that calls for the complete repeal of the franchise tax in 2018.
These tax cut proposals are often styled as a way to help startups and small businesses (and ostensibly “create jobs”) but the current franchise tax exempts businesses with revenue under $1 million or franchise tax estimates under $1,000.
It remains to be see what, if anything will get passed this year.
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