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February 24, 2015      5:18 PM

Updated: Senate leadership proposes $4.6 billion in tax cuts

Lt. Gov. Patrick says Gov. Abbott fully supports tax cut plan: “We're so close shoulder-to-shoulder you couldn't put a piece of paper between us." Abbott hasn't seen the plan.

Note: As of 5:46pm, this story has been updated throughout, including Gov. Abbott's reaction to the plan – SB

One day after Texas House leaders promised to “do better than” the $4 billion in tax cuts originally promised this session by the Senate, the Republican leadership of the upper chamber on Tuesday unveiled a package of property and business tax cuts totaling $4.6 billion. Calling it the "next step," Lt. Gov. Dan Patrick told reporters at a Capitol news conference that it’s possible even more tax relief could be in the offing as the legislative process moves forward.

Finance Committee Chair Sen. Jane Nelson, R-Flower Mound, filed SB 1 and SB 7, which together provide for “approximately $4 billion in tax relief during the 2016-2017 biennium."

By Scott Braddock