Texas House and Senate finally agree on property tax deal after lengthy debate.

Texas House and Senate Reach Deal on Property Tax Reform

After months of intense debate and disagreement, the Texas House and Senate have finally come to a groundbreaking deal on property tax reform. This long-standing dispute had brought the workings of the legislature to a grinding halt, with Governor Greg Abbott exercising his veto power to reject numerous proposals from the Senate. However, a compromise has now been reached, bringing an end to the impasse.

The compromise, valued at a staggering $18 billion, aims to provide much-needed tax cuts for small businesses and subsidies for schools, enabling them to lower their tax rates. Additionally, it offers relief to the state’s 5.7 million homeowners, as reported by the Texas Tribune. This agreement not only resolves the immediate issue at hand but also helps alleviate the growing tensions among Republicans in the state.

Positive Reactions from Governor Abbott and Lt. Gov. Patrick

In a statement, Governor Abbott expressed his satisfaction with the compromise, stating, “I promised during my campaign that the state would return to property taxpayers at least half of the largest budget surplus we have ever had. Today’s agreement between the House and the Senate is a step toward delivering on that promise. I look forward to this legislation reaching my desk, so I can sign into law the largest property tax cut in Texas history.”

Lieutenant Governor Dan Patrick, who had previously clashed with Governor Abbott over the dispute, also voiced his contentment with the deal. “It has been a long road, but this is a great day for all property owners,” he said. “It may have taken overtime, but the process has produced a great bill for homeowners and businesses.”

The final bill is expected to pass later this week, marking a significant milestone in the ongoing efforts to reform property taxes in Texas.

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