The Senate this evening finally passed House Bill 735, legislation that represents one of the largest tax cuts in Texas history. The House version had the tax cut going into effect immediately, but the Senate opted to keep taking the tax for one more year. This is a tax, by the way, which was supposed to have gone away years ago; it had completed its statutory purpose but lawmakers decided they liked getting the money and refused to follow through on the promise to abolish it. So while the House voted unanimously to finally stop taking the tax now, the Senate is going to grab another year out of you. Hopefully, in conference committee, the House version will emerge. With just days left in the legislative session, our legislators seems to be (finally) taking a positive step toward reining in government spending and letting taxpayers keep their hard-earned money.
Senate (Finally) Passes TIF Tax Repeal
The Senate this evening finally passed House Bill 735, legislation that represents one of the largest tax cuts in Texas history. The House version had the tax cut going into effect immediately, but the Senate opted to keep taking the tax for one more year. This is a tax, by the way, which was supposed to have gone away years ago; it had completed its statutory purpose but lawmakers decided they liked getting the money and refused to follow through on the promise to abolish it.
A graduate of Texas A&M, former newspaper reporter, one-time Capitol Hill staffer, think tank vice president, and an Eagle Scout, Michael Quinn Sullivan and his wife have three children. He is the publisher of Texas Scorecard. Check out his podcast, “Reflections on Life and Liberty.”