Planned business tax will be reduced, Senate panel chairman says

Planned business tax will be reduced, Senate panel chairman says: "The head of the Senate Finance Committee plans to adjust a proposed business tax today by reducing its focus on payrolls.

Sen. Steve Ogden, R-Bryan, said he hopes to lay out a plan to tax a company's net income plus 25 percent of its payroll, down from a proposal unveiled earlier this week that would tax net income plus 50 percent of payroll."