More Prosperous Texas

Texas offers unparalleled economic freedom and opportunity, including:

• No state income tax
• A stable, predictable regulatory environment
• A skilled, young, diverse, and growing workforce

Under Governor Abbott’s steadfast leadership, Texas is shattering record after record as the best place to live, work, and raise a family:

• #1 for the most new jobs, with over 2.5 million jobs added since 2015
• Named Best State for Business for a historic 20 years in a row by America’s CEOs
• #1 for corporate relocation and expansion projects, winning the Governor's Cup for a record-breaking 13 years in a row
• A leader for jobs created by Black, women, Hispanic, and veteran women business owners
• Named the state with the Best Business Climate in the nation

Property Tax Relief 

Since taking office in 2015, Governor Greg Abbott has worked with the Texas Legislature to pass significant property tax reforms, including: 

• Provided over $40 billion for property tax relief, including the largest property tax cut of $18 billion last session
• Provided a tax rate compression framework for school district maintenance & operation (M&O) tax rates
• Delivered meaningful relief to homeowners by enabling voters to overwhelmingly approve increases to the homestead exemption, from $25,000 and $110,000 for Texas seniors
• Provided relief to small businesses by increasing the Business Personal Property exemption to $2,50

Yet, many Texans have not felt the property tax relief because local taxing authorities hiked their property taxes even more. Governor Abbott has declared property tax relief as an emergency item to further secure property tax relief and stop local taxing authorities from raising property taxes without voters’ approval. The Governor will work with the Texas Legislature to: 

• Use at least $10 billion of the state’s budget surplus for property tax relief
• Speed-up tax rate compression to lower school district M&O tax rates, providing relief for ALL property taxpayers
• Eliminate local taxing authorities’ loopholes by requiring two-thirds voter approval for all tax increases
• Increase the business personal property tax exemption to $100,000 to support small businesses
• Require all local bond issues and tax rate elections be on the November ballot and approved by a two-thirds supermajority of voters

Economic Development

Texas is the blueprint for America’s future. Under Governor Abbott’s leadership, Texas is a national economic leader:

• #1 exporting state for 23 years in a row
• #1 for technology and innovation
• #1 for semiconductors that power cell phones, computers, cars, and more
• Solidifying our state as the financial capital of America, with the creation of the Texas Stock Exchange, the New York Stock Exchange launch of NYSE Texas, and Nasdaq creating a new regional headquarters in Dallas

Governor Abbott worked with the Texas Legislature during the 88th Legislative Session to ensure the Texas economy continues to grow and lead. The Governor signed new laws to help keep Texas the best state for business, including:

• Established new specialized courts to address business issues
• Enacted protections for businesses against burdensome, patchwork regulations
• Expanded economic development incentives to spur job creation and attract even more investments in Texas

To ensure that prosperity continues to reach every Texas family and business, Governor Abbott: 

• Created the Governor’s Small Business Freedom Council to review government efficiency and cut regulatory red tape
• Launched the Texas Space Commission with the Texas Legislature to boost space exploration