Benefits to the poor of Texas franchise tax repeal In 2013, the Beacon Hill Institute at Suffolk University modeled the economic benefits of eliminating Texass franchise tax. The franchise tax is a tax on capital. Instituted to raise revenue for school districts, the franchise tax is calculated in a number of different ways and has gone through a few iterations. Beacon Hill researchers estimated that if Texas had eliminated the franchise tax in 2013: Investment would surge by $3.2 billion, growing to $3.4 billion by 2017. Texas would gain $6.4 billion in real disposable income in 2013 and, cumulatively, $9.8 billion by 2017. In the first year, private sector employment would grow 31,500, and the cumulative total in 2017 would be 41,500 additional jobs. (06/24/14)
Posted on: Wed, 25 Jun 2014 02:56:06 +0000
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