Report Recommends Changes to Tax Exemption for Fracking

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Updated, 4:45 p.m.:

David Blackmon, a spokesman for the Texas Oil and Gas Association, said by email that the group was pleased that the Legislative Budget Board did not recommend elimination of the high-cost gas provision (unlike HB 55). However, he added, the association is "at a loss to understand why the LBB, at a time when the state is running a significant budget surplus, would be calling for what would be a major tax increase on the most  highly-taxed and greatest job-creating business in the state of Texas.  Without this reduction, the Texas severance tax rate is ...

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