Texas Credit Union League Contributes to Ad Campaign Supporting Tax Proposal
AUSTIN– The Texas CU League has thrown in with other interests to be saved by the proposed new state tax with help financing a radio campaign touting the tax proposal. The credit union league has contributed $25,000 to the campaign financed by Texans for Taxpayer Relief, which touts a proposal passed by the state House Tuesday that swaps the current franchise tax in favor of a new business ‘Gross Margins’ tax. The new tax spares credit unions of a state tax.
The group has raised about $220,000 so far to finance the radio ads, and also includes Texas Motor Transportation Association ($50,000); Maxxam Corp. ($50,000); Texas Apartment Association ($30,000); Texas Beer Alliance ($30,000); Texas Association of Builders ($25,000) and Texas Restaurant Association ($10,000). The group aims to raise as much as $6 million to support its campaign.
The tax bill now goes to the state Senate for its deliberation.