Special session debates business privilege tax hike

February 14, 2018 Nestor Licanto

Governor Eddie Calvo called senators into special session Wednesday seeking immediate action on his bill to raise the Business Privilege Tax by 50% to replace an estimated $67 million in lost revenue as a result of the Trump tax reforms. But the administration's fiscal team projects that increasing the BPT from 4% to 6% will generate $120 million. Calvo also plans to use some of the money for the hospital and education. Senators met, but adjourned shortly after, with Speaker BJ Cruz...

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Special session debates business privilege tax hike

Governor Eddie Calvo called senators into special session Wednesday seeking immediate action on his bill to...