AUSTIN, Texas (AP) - Gov. Greg Abbott has signed into law $3.8 billion in tax cuts for businesses and, potentially, for homeowners.
The Republican made slashing taxes a top priority of his first legislative session as governor, and headed to an Austin technology firm for Monday's signing ceremony.
Approved by the Republican-controlled Legislature, the new laws reduce business taxes by 25 percent. They also create a November ballot initiative, asking voters to approve tax reductions for homeowners.
If that passes, property taxes will fall about $120 annually for the average homeowner. But, in many areas, that could be swallowed up by fast-rising home appraisals.
Abbott said fee reductions push the value of the total tax package to $4 billion. He praised Texas' strong economy, but said tax cuts would help keep it that way.
Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Thursday, June 8 2017 4:36 AM EDT2017-06-08 08:36:26 GMT
ANAHEIM, Calif. (AP) - Carlos Perez's squeeze bunt in the 10th inning capped another comeback for the Los Angeles Angels, who scored three times in the ninth before going on to beatMore >>
Jose Altuve had two doubles and two singles, stretched his sizzling hitting streak to 16 games and helped the Houston Astros rout the Philadelphia Phillies 13-4. A day after tying his career high for hits in a game at...More >>
A long-haul truck driver charged in the deaths of 10 immigrants found inside his sweltering tractor-trailer called his fiancee Sunday from a jail more than 1,000 miles from home and briefly described the gruesome...More >>
A long-haul truck driver charged in the deaths of 10 immigrants found inside his sweltering tractor-trailer called his fiancee Sunday from a jail more than 1,000 miles from home and briefly described the gruesome events.More >>