Guest guest Posted May 13, 2006 Report Share Posted May 13, 2006 COLEMAN: HB1 SHORTCHANGES OUR CHILDREN'S SCHOOLS GIVES BIG OIL AND BIG BUSINESS A $400 MILLION TAX HOLIDAY State Rep. Garnet (D-Houston) said today that House Bill 1, which was approved today by the Texas House, cut $400 million in funds promised to Texas school children last year and used that money to pay for a tax holiday for big oil and big business. Under the tax plan, businesses will have their property taxes cut in 2007 but will not pay the new business tax until 2008, resulting in a windfall of $400 million for the big oil, insurance, and utility industries alone. " Today, a Texas House majority sent Texas voters a message that giving a big tax break to Exxon is a higher priority than keeping a promise made to provide $1.8 billion for our children's schools, " said. Soure: www.quorum report S. " The only thing necessary for evil to triumph is for enough good men to do nothing. " Edmund Burke Quote Link to comment Share on other sites More sharing options...
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