Gov Perry: We Should Reduce The Weight of Government On Texas Business

Supports raising small business exemption to $1 million

AUSTIN, TX, Feb. 17, 2009 -- Gov. Rick Perry today addressed National Federation of Independent Business (NFIB) Small Business Day luncheon expressing his support of small business in Texas, including the idea of raising the business margins tax exemption to $1 million.

“I think we can do more to make Texas the best option for companies that employ Texans, which should include taking a close look at the reformed business tax we implemented a few years ago,” said Gov. Perry. “I support raising the small business exemption to $1 million but also look forward to hearing what our legislators have to say. We need to do everything we can to reduce the weight of government so that employers can have the breathing room they need to make it through these uncertain economic times.


The governor additionally reiterated his commitment to maintain reasonable taxes and regulations, and pursue fiscal responsibility as the state works to balance the budget for the upcoming biennium in order to enhance Texas’ competitive edge in the current national economic downturn.

“I am committed to working with our legislators to keep Texas living within its means, continuing our adherence to proven fiscal principles and making tough choices,” said Gov. Perry. “It may not be the most popular course, but it is the wisest and will keep Texas strong in the months and years to come.”

In his remarks, Gov. Perry also emphasized the need to continue investing in state incentive programs like the Texas Enterprise Fund (TEF) and the Texas Emerging Technology Fund (ETF) which are powerful tools in the state’s efforts to create jobs, and commercialize technology and research in Texas. Since 2003, TEF has generated more than 53,800 jobs and $14 billion in capital investment; and since 2005, ETF has invested approximately $53 million in 54 early-stage companies and 16 universities, and attracted more than 45 world-class researchers.

Source: Perry News Release