Posted by | April 30, 2011 13:54 | Filed under: Top Stories

The Texas House Ways and Means Committee approved a tax break for those who buy yachts costing $250,000 or more.

In a vote late Thursday, the committee approved a bill by Houston Republican Rep. John Davis. The proposed law would cap the maximum sales tax the state would collect on the sale of a personal boat.

Davis says the measure is needed because Florida has a similar law and boat buyers are going there to make their purchases. The measure passed on an 8-3 vote along party lines.

It next goes to the full House.

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By: Alan

Alan Colmes is the publisher of Liberaland.