Texas Lt. Gov. Dan Patrick, Speaker Dade Phelan Reach Historical $18 Billion Property Tax Cut Deal

Lt. Gov. Dan Patrick and House Speaker Dade Phelan on Monday announced they reached a deal on a historic $18 billion tax-relief plan for Texas property owners.
The deal ends a monthlong stalemate that turned into a public battle between the state’s top GOP leaders over property taxes.
Mr. Patrick’s stance was focused on a plan that combined the compression of schools’ M&O taxes and increasing the state’s homestead exemption.
“I started working to reduce property taxes at a Capitol hearing in 2003, [four] years before I was elected to the Texas Senate. It has been a long road, but it has been a great day for all property owners. Speaker Phelan and I worked diligently over the last week on the final bill. It made the difference,” Mr. Patrick said in a joint statement. “It may have taken overtime, but the process has produced a great bill for homeowners and businesses.”…}