dilloduck
Diamond Member
BROWNWOOD Gov. Rick Perry today signed into law House Bill 3, legislation that provides comprehensive business tax reform but also helps deliver the largest property tax cut in the states history.
Today I am proud to sign into law landmark business tax reforms that will provide greater fairness for employers, reliable funding for our school classrooms and revenue that will help deliver a record $15.7 billion property tax cut for the people of Texas, Perry said.
Perry thanked state Rep. Jim Keffer, R-Eastland, who authored the legislation and participated in the bill signing, for shepherding the bill through the Texas House. Sen. Troy Fraser, R-Marble Falls, also attended the bill signing.
Perry noted that the old tax system has gaping loopholes that allows businesses with good accountants to avoid paying their share while other employers got stuck carrying an unfair tax load and schools struggled as revenue from the business tax steadily dwindled... and millions of homeowners who have been forced to make up the difference with skyrocketing local property taxes.
When I put my signature on House Bill 3, that will all change, he said. Employers will benefit with a tax system that is fairer, a tax base that is broader and a tax rate that is substantially lower than the one we have today.
And as the centerpiece of our school finance plan, House Bill 3 will help us lower school property taxes by 33 percent for every homeowner and every other property owner in Texas.
House Bill 3:
Rewards employers for creating jobs and investing in employee benefits. Every time a business puts a Texan to work, pays for health insurance or invests in a pension plan... their tax liability will go down.
Protects small employers so that they can continue to drive Texas economic growth.
Exempts sole proprietors and general partnerships from the tax, as well as businesses whose gross receipts total $300,000 or less, and those whose tax bill is less than $1,000.
Rewards employers that create jobs and contribute to our economy, but also mandates that.
Oh ya--lets become dependent on money received because of illegal aliens.Businesses that hire illegal immigrants will pay the price with higher taxes.
Great solution, Rick.
http://www.governor.state.tx.us/divisions/press/pressreleases/PressRelease.2006-05-18.1748
An indirect benefit of Richardson/Napolitanos public catharsis might be to give courage to notorious Republican immigration wafflers Texas Governor Rick Perry and California Governor Arnold Schwarzenegger. They too are up for re-election in 2006. Both did well among Latino voters in their last elections. Hence, both tiptoe around illegal immigration.
http://www.vdare.com/guzzardi/050820_richardson.htm
Additional Govt aiding and abetting.
http://www.americanchronicle.com/articles/viewArticle.asp?articleID=6465