Texas is vying to attract finance companies and their employees, and its recruitment campaign involves more than marketing. Financiers fleeing the coasts want to know that the state’s business climate will remain friendly in the future. Voters can give them some assurance by approving a trio of tax measures on the Election Day ballot.
One proposal is a ban on capital-gains taxes in the state. The Texas constitution already prohibits taxes on income of any kind, including wages and investment income. This year’s ballot measure would explicitly bar future legislatures from devising sneaky ways to get at capital gains.
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