Rep. Lucio believes in creating an economic climate where businesses can expand and add more employees while ensuring sensible consumer protections are maintained.
The small businesses of Texas are without a doubt a major element in our economic landscape and in most cases are family owned and operated. Rep. Lucio supported legislation that modifies the margins tax and lowers the tax burden for over 40,000 small businesses across the state. The tax exemption for small businesses will go from $300,000 to $1 million for the years 2010 and 2011, and $600,000 in future years. The increase in the exemption will foster the expansion of businesses and create more jobs.