Greg Abbott: Franchise tax cut will usher in `new era of job growth’
Gov. Greg Abbott Monday signed legislation cutting the business franchise tax by 25 percent, the centerpiece of more than $4 billion in tax relief approved by the Legislature that he said will make the state more affordable for Texans and more attractive to business.
“Today we ushered in a new era of job growth in the great state of Texas,” Abbott said as he signed into law House Bill 32 flanked by eight members of the Legislature. The signing ceremony was held at Advanced Micro Devices — which the governor described as one of the largest technology companies in the world, and one of the biggest payors of the franchise tax in the Austin area.
“I want AMD to know that because you are doing business in the state of Texas, you just got a tax cut,” Abbott said.
As the governor affixed his name and was about to date his signature, he asked whether it was June 14 or 15.
Read more: http://www.statesman.com/news/news/state-regional-govt-politics/abbott-franchise-tax-cut-will-usher-in-new-era-of-/nmdFt/
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