FOR IMMEDIATE RELEASE 04/29/2015
HOUSE APPROVES TAX RELIEF FOR ALL TEXANS
AUSTIN – Today, the Texas House of Representatives voted overwhelmingly in support of a pair of bills that will provide $4.9 billion in tax relief for Texans. House Bill 31 would reduce the state sales tax rate from 6.25 percent to 5.95 percent. House Bill 32 would reduce franchise tax rates by 25 percent.
"By passing a budget that is $2 billion below the spending limit, the House left for plenty of room for tax cuts," said Representative Ron Simmons, one of the many members who voted in support of HB 31 and HB 32. "As a successful businessman, I know that it’s the private sector, not government, that creates jobs and economic opportunity. HB 31 and HB 32 will put more money in the pockets of every Texan, which is exactly what I came here to do."
HB 31 and HB 32 are now headed to the Senate for consideration. The Senate has its own tax relief proposal, which would provide tax relief in the form of a property tax reduction and a decrease in the franchise tax.
"It is a good day for Texas when the House and Senate are fighting over who can provide the most tax relief," Simmons said. "However, the proposals the House passed today shrink the size of government instead of shifting it. Unlike property tax cuts, which cost the state budget and grow in cost with time, the sales tax reduction simply means the state collects less. We came to Austin to shrink government, not shift the burden from local government to the state."