The 72nd episode of the “Small Business Rundown” podcast features NFIB Member Tim Green, Region State Director Dawn McVea, and Texas State Director Jeff Burdett for a conversation on Prop 9, a Texas ballot issue, and the importance of its passage to small business owners in the Lone Star State.

Prop 9 is a constitutional amendment on the November ballot to raise the exemption for business personal property tax (also known as the inventory tax) from $2,500 to $125,000.

CLICK HERE to listen to the full conversation. Excerpts are below.

When asked how the current, low exemption of the inventory tax affects his small business, Green said:

“It feels like I don’t own any of my property or my inventory,” Green says. “I look at all my servers, at my desk, my furniture. I don’t own any of that stuff. I just rent it. I keep paying for it. I pay for it, and I keep paying for it. And God forbid I have any slow-moving inventory because I keep paying and paying for it.”

McVea and Burdett provide details about what Prop 9 means for the growth and development of Texas small businesses and how to make the voice of small businesses heard in support of this critical legislation.

If Prop 9 failed to pass, McVea shared how it would make it harder for small business owners to reinvest in their operations and workforce.

“If we don’t get things done and get these dollars back into the business, we see opportunities pass business owners by,” McVea said. “Whether it be the cost-of-living increases, whether it be the health insurance. Our members tell us, no matter what state they’re in, they want to provide health benefits but can’t always do that because of the rise in the cost of health care. Tax savings are something that goes back into the business. They are putting the money that they’ve received from tax savings, the money they receive from not having to spend on tax compliance, putting that back into their business.”

Burdett continued, urging voters to vote ‘YES’ on Prop 9 to give small business owners significant inventory tax relief.

“This is the first opportunity for us to get a significant increase in this exemption for 30 years,” Burdett said. “Since 1995 is when the $2,500 was put in. And so this is a really significant opportunity, and we’ve got to get it past the finish line. Like Tim said, we’re on the 2-yard line, but we really need our members to get out and vote for this and push this across the goal line.”

CLICK HERE to listen to the full conversation.