Texas Assoc. of BIG-Business opposes end of margins tax

Robert Pratt

In keeping with the recent trends from TAB, the group’s CEO leader Bill Hammond told small business owners, who are often hit very hard by the hated margins tax, that his group actually opposes ending the tax.

As if a business group wanting to maintain a tax upon itself wasn’t enough to raise interest, Hammond said government “needs the funds to do all of the things [undefined] that we do,” according to a television station in Wichita Falls reporting at www.texomashompage.com.

The story contained this interesting bit:

“With the 84th legislature about to convene in Austin, Hammond is preparing to lobby lawmakers for measures beneficial to the business climate

“Eliminating the franchise tax is not one of them.

“If the bill to end Texas’ franchise tax passes, businesses in Texas would no longer have to pay the state just to do business.

“Hammond isn’t sure the proposal will go through, or should.

“He says that revenue is important for Texas.

“I don’t believe the franchise tax will be eliminated. The state needs the funds to do all of the things that we do. To fund Midwestern State University, education, kindergarten through 12th grade,” says Hammond about the revenue.

“Hammond says he would be open to reducing rates.”

Mr. Hammond’s comments echo those of very large business leaders and their lobbyists in Washington, D.C. who favor certain oppressive policies of government in order to slow or stop competition from small business market disrupters.

It has become clear after the last couple of Texas legislative sessions that Mr. Hammond’s group should be renamed the Texas Association of BIG-Business.

Hammond and TAB’s callous indifference to the horrible and somewhat capricious burden the margins tax puts on Texas’ small to medium businesses is deplorable.