House, Senate Produce Disparate Versions of Tax Relief

AUSTIN — Legislation approved by the House and Senate last week reveal widely differing views on how to bring about tax relief to Texans in fiscal years 2016 and 2017. Speaker Joe Straus lauded the preliminary approval of House Bill 31, legislation to reduce the state sales tax from 6.25 percent to 5.95 percent, resulting in a $2.66 billion revenue decrease, and House Bill 32, legislation cutting the franchise tax paid by many businesses by 25 percent and resulting in a statewide revenue decrease of $2.56 billion.

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