As the 88th Legislature gavels into session, small business owners in Texas are calling for property tax relief, regulatory consistency, and greater economic opportunity. Today, January 10, is the first day of the 2023 legislative session.
“Common sense, pro-growth policies have allowed small businesses in Texas to thrive,” NFIB State Director Annie Spilman said. “But with 40-year high inflation and a recession on the horizon, Main Street is struggling. Given the record-breaking $32 billion budget surplus, now is the time to act. Our members are calling on the 88th Legislature to stabilize our recovery by cutting the inventory tax, creating a consistent regulatory environment, and lowering the cost of doing business here in Texas.”
According to recent NFIB data, inflation remains the No. 1 concern for local job creators. While battling rising prices, more than 40 percent of small business owners report they’re unable to fill current job openings. Among other reforms, Texas small businesses are calling on the 88th Legislature to:
Cut the inventory tax.
- Texas has one of the highest property tax burdens in the country – outranking California. Compliance is expensive and complicated, as the onus is on the business owner to determine just how much their property is worth and how much they owe.
- With nearly $33 billion in the state’s general revenue fund, NFIB is asking legislators to provide needed tax relief to small businesses.
To learn more, visit NFIB.com/TexasTaxCut
Create regulatory consistency.
- Amid rate increases from the Fed, skyrocketing prices, and supply chain disruptions, economic uncertainty is a given.
- NFIB is asking legislators to limit the scope of regulations on small businesses to state and federal law.
Bolster the skilled workforce and lower costs for employers.
- With an unemployment rate higher than the national average, far too many small businesses are unable to find qualified workers. Worse, out-of-state labor groups are pushing for California-style policies that would increase the cost of doing business in the Lone Star State.
- From lowering the cost of health insurance, providing greater liability protections, or promoting more pathways to the workforce, NFIB is asking legislators to keep small businesses in mind when considering reforms.