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The Texas Stock Exchange (TXSE) logo (Photo Illustration by Budrul Chukrut\/SOPA Images\/LightRocket via Getty Images)<\/p>\n
SOPA Images\/LightRocket via Getty Images<\/p>\n
Next Tuesday, November 5, New York City voters are likely to elect<\/a> a new mayor who has campaigned on income tax hikes for upper-income households and businesses. Meanwhile, that same day, Texas voters are expected to approve ballot measures banning state taxation of capital gains<\/a> and the imposition of a financial transactions tax. The heightened contrast is sure to help the Texas Stock Exchange (TXSE), the new Dallas-based stock market set to launch in 2026.<\/p>\n An October 31 Wall Street Journal report<\/a> about a new $90 million commitment to the TXSE from J.P. Morgan, the investment bank of JPMorgan Chase, noted that the TXSE \u201chas billed itself as more CEO-friendly\u201d than the New York Stock Exchange, adding that \u201cprevious investors include Citadel Securities, BlackRock and Charles Schwab.\u201d The new infusion from JP Morgan, the WSJ added, \u201cbrings TXSE\u2019s total fundraising to date above $250 million.\u201d<\/p>\n Ballot propositions banning a state death tax, a financial transactions tax, and a capital gains tax aren\u2019t the only 2025 ballot measures that are set to make Texas an even more attractive destination to live, work, and invest. Texas voters will have the opportunity to enact reforms that provide further tax cuts, particularly property tax relief.<\/p>\n Polling shows Texas voters are likely to approve Proposition 13, which will provide property tax relief to Lone Star State residents through a 40% increase in the homestead exemption. The state\u2019s $100,000 homestead exemption would rise to $140,000 if voters enact Proposition 13 next Tuesday.<\/p>\n \u201cWhile not a permanent fix to property taxes, the amendment should help slow the growth of property taxes for all homeowners,\u201d says Texans for Fiscal Responsibility (TFR), who has endorsed Proposition 13. While Proposition 13 seeks to provide relief for all property taxpayers in Texas, Proposition 9 would provide relief from the business personal property tax, commonly referred to as the inventory tax, to small businesses across the state. If approved, Proposition 9 would significantly increase the existing $2,500 inventory tax exemption, raising it to $125,000.<\/p>\n \u201cTexas is one of just nine states where small business owners pay taxes on the value of their inventory for sale, their personal property, and everything else used to generate income,\u201d noted the National Federation of Independent Business\u2019s Texas chapter in its statement of support for Proposition 9. NFIB adds that passage of Proposition 9 \u201cwould save Texas small businesses over $500 million annually,\u201d and \u201cmake Texas even more competitive amongst its neighboring states.\u201d<\/p>\n