Texas lawmakers voted on Thursday to extend a tax break for businesses with revenues of less than $1 million a year at a time the state is facing a massive budget shortfall.
The House Ways and Means Committee voted 8-0 to send the bill to the full House with three lawmakers absent.
The bill by Republican Rep. Harvey Hilderbran would continue a tax break that will cost the state almost $150 million over the next two years. Under the original business franchise tax, only companies with revenues of less than $600,000 a year were exempt from the tax.
See here for some background. The bill is HB262. Note that there are eight Republicans and three Democrats on the Ways and Means Committee, and that the vote was 8-0 with three members absent. How you can justify this exorbitant expenditure, for which there is no offsetting revenue source, at a time like this is just beyond me. Just keep it in mind when you hear every Republican in the House talk about “living within our means” and how they can’t support the slightly less awful Senate budget because it spends too much money.