HJR 1 – Tax cut for small businesses

The Senate Committee Report for HJR 1 offers tax relief to small business owners and entrepreneurs by allowing a $125,000 exemption on income-generating tangible personal property. This constitutional amendment simplifies compliance, reduces bureaucratic costs, and incentivizes productivity. It cuts down on burdensome taxation that can stifle economic growth, especially for small operations. This is a pro-growth, pro-business reform that respects taxpayers and limits government overreach.