Rep. Dan Flynn 29 State Reps Call for Additional Tax Relief

Requests that Governor Add Tax Relief to the Special Session Texas Insider Report: AUSTIN Texas - In the regular session we passed approximately $1 billion in tax relief said State Rep. Dan Flynn earlier this week. However in light of Texas revenues and our strong fiscal and economic standing we can and should do more to allow businesses to invest create jobs and grow the Texas economy to even greater heights said Flynn (R-Van) and 29 of his colleagues in a letter to Gov. Rick Perry requesting that significant Franchise Tax Reform be added to the call of the 1st Special Session of the Texas Legislature.  The letter coordinated by the Texas Conservative Coalition (TCC) the conservative caucus of the Texas Legislature cites dynamic economic and fiscal modeling in calling for a 50 reduction in the rates of the franchise tax which is levied on Texas businesses.

A 50 franchise tax rate reduction is urgently necessary to counteract some of the looming federal tax increases reduce Texas unemployment even further below the national average and widen the economic competitiveness gap between Texas and other states said Flynn.

For context the tax relief passed by the Legislature in the regular session amounts to approximately 1.27 of General Revenue or 0.6 of the entire budget. The revenue surplus at the start of the 83rd Legislature totaled approximately $8.8 billion.