Austin, TX – Today the Texas Independent Producers & Royalty Owners Association (TIPRO) announces its official endorsement of the Texas House relief tax plan. Specifically, House Bills 31 and 32 would provide a permanent tax cut that over the next two years will save Texans $4.9 billion. The plan cuts the state sales tax for the first time in history, and includes a broad-based reduction in the business franchise tax / margins tax. TIPRO joins a broad base of prominent business groups that endorse the plan. Additional details can be found at: www.taxrelieftexas.com.
The following is a statement from Ed Longanecker, president of the Texas Independent Producers & Royalty Owners Association (TIPRO), regarding the organization’s support of the House tax plan.
The oil and gas industry, royalty and mineral owners have coalesced behind the House tax relief plan because of its broad reaching benefit to Texas citizens and business community. The House tax plan will provide direct benefit to all Texas taxpayers, support job creation and drive further economic growth and prosperity for our state. We applaud the Texas House of Representatives for advancing this historic tax relief proposal and will continue our collective efforts to support its passage.