SENATOR PATRICK RECEIVES AWARD FROM NATIONAL FEDERATION OF INDEPENDENT BUSINESSES
Declares making small business tax cuts permanent a priority for next session
AUSTIN — Today, Senator Dan Patrick received the Guardian of Small Business Award from Texas' National Federation of Independent Businesses. Sen. Patrick has earned NFIB’s most coveted recognition for his support and aggressive advocacy on behalf of the small business community during the last legislative session.
“Senator Patrick understands the importance of small business to our state’s economy, and he proved himself to be a strong ally for NFIB and our members during the 81st Regular Session of the Texas Legislature,” said Will Newton, NFIB/Texas executive director.
Although Senator Patrick sought to make broad based tax cuts for businesses that make under $10 million, the bill that ultimately passed, House Bill 4765, exempted businesses making less than $1 million from the 2010-2011 reporting periods. Senator Patrick worked closely with NFIB to ensure the passage of this bill.
"The small businesses of Texas are a critical part of our economy," said Senator Patrick. "Cutting the franchise tax on small businesses was a priority for me last session and I was happy to work with the National Federation of Business to get it done."
HB 4765 reduced the tax burden on small businesses by more than $170 million and helped more than 40,000 businesses. Although this tax cut will expire before 2012, Senator Patrick is committed to making this tax cut permanent next session.
"Cutting the franchise tax on small businesses was important last session and keeping that cut will be critical next session," said Patrick. "The Guardian of Small Business Award from the NFIB is not just a token of gratitude from the small business community, but a generous reminder of the charge I have sworn to keep."