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About The Battalion. (College Station, Tex.) 1893-current | View Entire Issue (Nov. 8, 2001)
Politics a y> Novembeisj sday, November 8, 2001 THE BATTALION Page 7A ticlax credits announced few breaks designed to stimulate economy By Eric Ambroso THE BATTALION ^ process | n ordinance, nore signifies- t public prcjJ local civic;B’ exas Comptroller Carole Rylander has more inlo^Mntly announced a list of counties in which iMnesses can apply for state tax breaks in minute presea j|o:. These tax breaks will be used to stimulate '0| is and v^Beconomy with research credits, job creation ■its and investment credits. According to offi- iterested ini dais, all three of the tax credits will benefit large it on the C land'mall businesses. yww.ci.cofeBvhile the job creation and investment credits /elopmentSi phased on a county’s unemployment rate and Hall, 1101 ijcapita income, the research credit has been nies. ®n to all counties in Texas. Brazos County review inpiBoady qualified for a 5-percent research cred- ds and com! If" the 2002 year. Firms conducting research died DevelJ to create new products and technology will receive this tax credit from the state government and can be used to cover expenditures. “It takes a long time and a lot of expenditures to invent and promote a new product,” said Ed Warren, spokesman for the Revenue Service at the Comptroller’s Office. “Research credits will reduce the amount that businesses in Brazos County will pay by 5 percent. The state will cover the rest of the cost with revenue raised by other taxes. By using this tax system, the state plans to give incentives to the economy.” Warren said the tax breaks will encourage firms to make larger research expenditures. By creating new processes and products, the tax credits will stimulate economic growth, create new jobs and help rejuvenate the economy. m Ik Dallas mayor resigns, plans to run for U.S. senate not ALLAS (AP) — Dallas Ivor Ron Kirk resigned Wednesday to run for U.S. Senate, ending a six-year ■ure in which he was wide- TA ly credited with unifying a I Vt.(.| JBctured City Council and ■hing through major civic ire overiooL.Bprovement projects, use on SarsKirk, a Democrat, will the job being vacated Republicanai cy Republican Phil Gramm, [he feomt miring- Democrali. 1“ ^ as overwhelmingly ^:ted the city s first black party looks c mayor in 1995 and won again erest, Tiller byawije margin in 1999. He simplistic inIfc 0 ffi ce when the city was :hez is Hispas loiarized racially, but used his lull Hispanic itnng hand to tame con- i. When thedewtious council meetings. . (hat Sanchez the mayor also has had Republican »■ s k are °f disappointments he middle dlj e . lead, ; r T lhe ™ tion ' s ir,willrp 1 );7e# th ‘ )argeSt C,fy ' W,th * P ° P ' cs *tion of 1.2 million people. the last six months, Boeing . chose not to relocate its adquarters to Dallas and fe city was eliminated from as ifhe isattaefeonsideration to host the st is with anditfaft." II have to in said. 2012 Olympic Games. “We have done what we said we were going to do. We stopped the blame game. We ended the bicker ing here at City Hall,” Kirk said during his farewell speech to supporters. “More importantly, perhaps most importantly, we have changed the culture and the expectations of what you believed could happen in this building so that we could change the reality of what hap pens outside this building.” Kirk’s next step is to begin raising money for a March 12 primary. His expected chal lengers are former Texas Attorney General Dan Morales, U.S. Rep. Ken Bentsen of Houston, Austin lawyer Ed Cunningham and Victor Morales, a former U.S. Senate candidate. Should Kirk get past the primary, he is likely to face state Attorney General John Cornyn, a Republican, in November. Observers say Kirk’s lack of name recognition outside the Dallas-Fort Worth area means he will be forced to spend a lot of money cam paigning in the primary. “His biggest challenge will be to familiarize the rest of the state of Texas with himself,” said Dallas County Commissioner John Wiley Price, a longtime black activist. Austin political analyst Bill Miller said Kirk will be an energetic and charis matic contender. “On the Democratic side, he’s the best candidate in terms of creating excitement and drawing attention,” he said. But in a general election, Miller said, Cornyn will be an “extremely formidable” foe. Kirk passes the gavel to Mayor Pro Tern Mary Poss, who has said she will not run in a special election in January to fill his term. 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