Texas Legislature OKs budget containing $3.8B in tax cuts

AUSTIN, TX (TIP): Final tweaks to Texas’ $209 billion budget allowing for $3.8 billion in tax cuts have passed the Legislature and are headed to Gov. Greg Abbott, according to an AP report.

On a 30-1 Senate vote, the only bill lawmakers must pass during the 140-day session was approved Friday. The House later endorsed it 115-33.

The House and Senate for weeks wrestled over whose tax cut proposal was best, between plans lowering property or sales taxes. But they reached a recent agreement, making the final votes drama-free.

Beginning Jan. 1, homeowners will stand to save roughly $120 annually in property taxes.

Abbott, who demanded tax cuts, can trumpet Texas’ biggest tax rollbacks in a decade when he soon signs them into law.

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Other big-ticket governor priorities: $3.7 billion for transportation and $800 million for border security.

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