Texas Public Policy Foundation’s David Guenthner Said Governor Perry’s Tax Relief Plan Is Step In the Right Direction [AUDIO]
On the Tuesday edition of The Chad Hasty Show, David Guenthner from the Texas Public Policy Foundation talked with Chad Hasty about the latest coming out of the Texas legislative session.
On Monday, Governor Rick Perry proposed a plan for tax relief for small businesses in Texas. The plan would include reducing the franchise tax rate by 5% and a larger rate cut for those businesses who use EZ returns. Guenthner said that plan was step in the right direction to encourage businesses to come to Texas.
However, he added that this reform isn't quite the same thing as doing away with the margin tax. Guenthner stated that the tax is still a big problem for small businesses, and he would still prefer to see that tax go away completely.
"Our ultimate goal is to get rid of the [margin] tax because is it a drag on the Texas business climate...right now, Texas has the ninth best climate for business taxes in the country and if you got rid of the margin tax by itself, that would move Texas back into the top five."
Guenthner also expects the plan to face much debate, especially when it comes to how to pay for the plan. The plan is expected to cost approximately $1.6 billion over the next two years.
Throughout the Texas legislative session, you can listen to David Guenthner Tuesdays at 9:05 during The Chad Hasty Show on NewsTalk 790 KFYO. For more information on the Texas Public Policy Foundation, visit their website at texaspolicy.com. You can also find them on Facebook and Twitter @TPPF.