Posted: Apr 15, 2013 4:04 PM by Associated Press
AUSTIN, Texas (AP) - Gov. Rick Perry is backing $1.6 billion in business tax cuts, even though he concedes it may mean tapping Texas' once-untouchable cash reserves.
During a Monday visit to the Austin Chamber of Commerce, Perry said close to 100,000 businesses could see lower taxes under his plan.
He added it may be necessary to finance the cuts using the state's Rainy Day Fund.
That was a dramatic departure from two years ago, when Perry - looking to solidify his tea party credentials as he prepared for an unsuccessful presidential run - said the reserve funds shouldn't be touched under almost any circumstances.
Perry opened Texas' legislative session urging the use of a surplus of funds sparked by the state's booming economy on "tax relief."
Those cuts haven't materialized so far.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
Do you have a tip, information about a breaking news story, or a story idea for 6 Investigates? Contact the KRIS 6 News Desk at 361-884-6666 or send us an email.
Send us your feedback. We want to hear from you!
Look at photos and videos and share them!
|KRISTV.COM Mobile Website
Get KRISTV.com on your mobile or PDA!
|KRISTV.COM Mobile Apps
Get our mobile apps on your mobile or PDA!
See the latest winning numbers!
|6 News Team
Read about your favorite KRIS-TV personalities!
|FCC Online Public File
FCC Public File of Records, Reports, and more