Despite difficult economic times, the Texas economy has continued to thrive. In fact, over the last decade, fully 25% of all jobs created in the United States were created right here in the State of Texas. As a small business owner, Leighton knows the impact that government fiscal policy has on business. That’s why the Texas Association of Business recognized Leighton with its highest honor, the “Champion of Free Enterprise” Award, for his work in the last legislative session.
Leighton strongly supported the 2015-2016 budget that continues to keep Texas on strong fiscal ground by keeping government spending increases to less than 2% per year. The budget grows less than population and inflation as it stays well beneath the constitutional spending cap, leaving more than $11 billion in the state’s Rainy Day Fund. Yet even as it limits spending, careful spending priorities still provide additional funding for education, border security, transportation and child protection.
With a budget surplus provided by the success of the private sector, Leighton worked throughout the session to deliver tax relief. Those efforts paid off as the Legislature approved nearly $4 billion in tax relief. This represents a 25% reduction in the business margins tax, as well as a $10,000 increase in homestead exemption that will provide long term relief for homeowners.
Leighton’s strong belief is that the people of Texas know best how to spend their hard earned money and that Texans should be allowed to continue creating a welcoming environment for business.