THE VOICE OF SMALL BUSINESS CALLS FOR PROPERTY TAX RELIEF

Date: July 24, 2017

NFIB/Texas Gave Testimony at the Capitol in Support of Senate Bill 1

(AUSTIN, TEXAS) July 24, 2017 — National Federation of Independent Business (NFIB)/Texas, the state’s leading small business association, gave testimony at the Texas Capitol over the weekend in support of Senate Bill (SB) 1, by Senator Paul Bettencourt, in committee as part of the 85th Special Legislative Session. SB 1 was passed out of committee and onto the Senate floor for a vote.

Legislation to provide meaningful property tax relief has been identified as one of the 20 priority items Governor Abbott included on the special session call. In a 2016 Problems and Priorities study conducted in Texas, small business owners named property tax in their top five most burdensome problems. In Texas and nationally, tax-related issues represent 5 of top 10 most serious problems for small business owners. Nearly a third (29 percent) say “federal taxes on business income” is their biggest headache. Many others identify: “tax complexity; frequent changes in the tax code; property taxes; and state taxes on business income” as their top concerns.

 “Property tax continues to be a problem for small business in Texas and we believe that Senator Bettencourt’s solution through SB1 is the path to relief,” said NFIB/Texas Executive Director Will Newton, “Senator Bettencourt met with a number of our small business members in between the 84th and 85th Legislative Sessions to discuss property tax reform and to gain a better understanding of these business owners’ needs. We cannot continue to overtax the job creators of Texas without suffering economic duress.”

NFIB/Texas has 21,000 dues-paying members representing a cross-section of the state’s economy from agriculture, construction, and manufacturing to wholesale, retail, and services. Additionally, NFIB/Texas membership is 96 percent comprised of businesses who have 40 employees or less and is the largest association advocating for small business in the Capitol.

Related Content: Small Business News | Taxes | Texas

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