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The economy of the State of Texas is the second largest by GDP in the United States after that of California. It has a gross state product of $2.636 trillion as of 2023. [ 7] In 2022, Texas led the nation with the most companies in the Fortune 500 with 53 in total. [ 8]
The economy of Houston is based primarily on the energy industry, particularly oil.However, health care, biomedical research, and aerospace also constitute large sectors. In 2021, the gross domestic product (GDP) of the Houston–The Woodlands–Sugar Land metropolitan statistical area (MSA) was 537 U.S. dollars billion, the fourth-largest of any metro area in the United States. [1]
Water trading. Water trading is the process of buying and selling water access entitlements, also often called water rights. The terms of the trade can be either permanent or temporary, depending on the legal status of the water rights. Some of the western states of the United States, Chile, South Africa, Australia, Iran and Spain 's Canary ...
A non-exempt well is a well capable of producing more than 17.36 gallons per minute, and must submit semi-annual water well production reports to the District at a rate of $0.155 per 1,000 gallons.
Also known as. Gusher age. The Texas oil boom, sometimes called the gusher age, was a period of dramatic change and economic growth in the U.S. state of Texas during the early 20th century that began with the discovery of a large petroleum reserve near Beaumont, Texas. The find was unprecedented in its size (worldwide) and ushered in an age of ...
The U.S. foreign-trade zones program was created by the Foreign-Trade Zones Act of 1934. The Foreign-Trade Zones Act was one of two key pieces of legislation passed in 1934 in an attempt to mitigate some of the destructive effects of the Smoot-Hawley Tariffs, which had been imposed in 1930. The Foreign-Trade Zones Act was created to "expedite ...
Meanwhile, Harris backed increasing the corporate tax rate of 21 percent — one of the permanent features of the Trump-era tax reform — to 35 percent, higher than Biden’s preferred 28 percent.
During the 1990s, the Texas Legislature moved to make natural-resource protection more efficient by consolidating programs. In 1991, it combined the Texas Water Commission and the Texas Air Control Board to create the first version of the TCEQ, known as the Texas Natural Resource Conservation Commission until fall 1993. [3]