Well, isn't that nice. This is the business revenue tax that was pushed by Perry and other Republicans (and Democrats) in 2006 as a way of generating more tax income for the state of Texas. At the time, it was claimed that it would reduce people's property taxes. Of course, property taxes are now higher than ever.
As usual, the tax cut isn't matched by any particular spending cuts. So it looks like a typical effort to score some votes by "taxing the future" instead of the present.
Wouldn't it be nice if politicians like Rick Perry spent more time coming up with spending cuts? But no, that might be unpopular.
Libertarians have proven to be brave about spending cuts, whether they're popular or not. Let's get some Libertarians elected to office.