The Texas House of Representatives overwhelmingly voted to support a bill Wednesday that will dedicate a portion of the Texas Enterprise Fund to attract, support and motivate small businesses in the state.
The National Federation of Independent Business released a statement after the passage of House Bill 394 Wednesday, recognizing the lawmakers strong support for the bill as a boon for small businesses who make up nearly 98 percent of the businesses in Texas and employ a majority of the state’s workers, the NFIB said in a statement.
The Texas Enterprise Fund has traditionally allotted funding to support big businesses in the form of offering hundreds of millions of dollars in incentive dollars, including tax incentives and tax breaks. NFIB says Wednesday’s passage of HB 394 shows Texas recognizes that small businesses drive a significant portion of the state’s economy.
The organization, which advocates for small businesses, concluded, “HB 394, once enacted, will go along way in growing the Texas small-business community that will continue to make Texas number one in job creation, business startups and small business growth.”