Touts tax cut for small businesses investment in economic development improvements to higher education accessibility
AUSTIN Gov. Rick Perry today touted legislative accomplishments of the 81st Legislative Session as necessary to continuing the states position as an economic leader. The governor commended legislative action that addressed emergency issues cut taxes for 40000 small businesses across the state invested in Texas economic development and job creation incentives and improved higher education accessibility for millions of Texans.
We all know that this session has taken place in the context of significant turmoil in the global marketplace and economic upheaval across our country. These factors were never far from anyones mind as legislators worked through a number of key issues under the welcome microscope of public scrutiny" Gov. Perry said. As the dust settles from the 81st legislative session and legislators return to their districts they should be proud that they have approved a plan that is good for Texas."
Gov. Perry emphasized important action lawmakers took on key issues he declared emergency items in February. These include various bills enacting reforms in state schools including allowing surveillance cameras in common areas to protect residents; reforming the Texas Windstorm Insurance Association; and reducing the impact on utility customers from rebuilding and restoring utility service following natural disasters.
The governor also applauded the Legislature for its continued commitment to maintaining Texas competitive economic environment by replenishing the Texas Enterprise Fund Emerging Technology Fund and Film Incentives Fund. He emphasized the importance of the states biotechnology and research sectors and the appropriation of funding for debt service for $450 million in bonds for the Cancer Prevention and Research Institute of Texas and legislation that will improve operations of the institute.
He also highlighted the importance of removing tax burdens from small businesses which serve as the states economic engine by raising the small business margins tax exemption to $1 million and praised the Legislature for resisting unemployment insurance funds tied to costly mandates on employers in the federal stimulus package.
Gov. Perry emphasized the importance of maintaining a skilled and competitive workforce by ensuring access to quality public and higher education for all Texans. Legislation increases financial aid through the TEXAS Grant program and Texas Educational Opportunity Grants; modifies the top 10 percent automatic admissions law; and promotes increased accountability for educators and greater transparency in course information for students during class registration.
He also reiterated the importance of maintaining the safety and security of Texans through the states border security plan with a $113 million investment that will fill the gap of policing the border that the federal government has left open as well as combat the transnational gang threat in the state. Lawmakers also appropriated $62 million to the states Disaster Contingency Fund giving the Governors Division of Emergency Management the resources necessary to act quickly on our citizens behalf when natural disasters threaten the state.
The governor commended the Legislature for passing the biennial state budget with less than 1 percent growth in general revenue spending. The Legislature also left the states Rainy Day Fund intact providing an expected balance of $9.1 billion to address future state needs.
There are a lot of people in other states who are still dealing with record deficits and layoffs of employees while here in Texas we woke up this morning with a balanced budget and a Rainy Day fund that remains untouched" Gov. Perry said.
For more information about the 81st Legislative Session please visit
www.governor.state.tx.us or
http://www.legis.state.tx.us/Home.aspx
