Thursday, May 28, 2009

Texas Senate cuts business tax

Texas Senate cuts business tax. It would exempt businesses earning up to $1 million a year. After two years the tax exemption will be permanent for small businesses earning up to $600,000 annually, which is double the current $300,000 exemption.

"This is a major tax cut that's good for small business and the workers of Texas," - Senator Dan Patrick.

While this is a good start, they should have made the full $1 million sales level a permanent exemption. Something for tax cutters to run on next year, I suppose.

Meanwhile, the gas-tax hikers make their case.

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