AUSTIN – The Texas Public Policy Foundation applauds the leadership of Gov. Rick Perry, Sen. Dan Patrick, Rep. Rene Oliveira, and all of the legislators whose efforts led to today’s signing of House Bill 4765, which increases the exemption for the state’s gross margins tax.

“Small businesses are responsible for most of the jobs in our modern economy,” said Talmadge Heflin, Director of TPPF’s Center for Fiscal Policy. “This period of economic difficulty makes it all the more important to support them, and we applaud Gov. Perry and our legislators for rising to the challenge.”

During the last several years, Texas has led the nation in job creation, exports, and business climate. Recent analyses indicate that Texas was one of the last states in the country to enter the national recession and will be one of the first states to emerge from it.

“Our research indicates that low taxes are vital to a vibrant private sector,” Heflin said. “Texas’ economy is the envy of the nation because our state leaders have kept taxes and spending low, which has enabled businesses to use more of their resources for job creation.”

The Honorable Talmadge Heflin is Director of the Center for Fiscal Policy at the Texas Public Policy Foundation. Heflin served 11 terms in the Texas House of Representatives and chaired the House Appropriations Committee in 2003, leading the Texas Legislature’s successful efforts to close a $10 billion budget deficit without a tax increase.

The Texas Public Policy Foundation is a non-profit, free-market research institute based in Austin, Texas.

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