Texas House Approves Business-Tax Plan

Albanese, Elizabeth
April 2006
Bond Buyer;4/26/2006, Vol. 356 Issue 32368, p5
Trade Publication
The article reports that the Texas House has approved a broad-based business tax plan when signed into law would mark the first new tax to fund schools in Lone Star State since 1949. The new business tax will generate huge revenue with a continued rise of new businesses and business growth. It will finance schools, including the gross-receipts tax, a series of cigarette hikes and the use of as much as 2 billion from a revenue surplus of about 2 billion dollars.


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