States that reduce spending, cut taxes, and return surpluses to taxpayers have much stronger economic growth than states that attempt to use government spending to grow an economy
Rank State Per Capita Spending 50 Florida $3,724 49 Nevada $3,745 48 Missouri $3,965 47 New Hampshire $4,049 46 Texas $4,098 45 Georgia $4,258 44 Utah $4,323 43 North Carolina $4,417 42 Indiana $4,433 41 South Dakota $4,530
Economic Per capita Eco Devo Spending Adjusted Poverty State Performance Spending Rank Rank Texas 1 $4,098 15 17 North Carolina 8 $4,417 12 28 Georgia 17 $4,258 5 45 Florida 18 $3,724 20 49 Virginia 19 $5,483 2 12 Top 20 Avg $4,396 11 30 Bottom 25 Avg $5,934 20 36 New York 26 $7,091 30 46 California 31 $6,452 11 50 Pennsylvania 38 $5,688 18 24 Illinois 46 $5,397 19 30 New Jersey 47 $6,095 27 37 Ohio 49 $5,389 13 36 Michigan 50 $5,429 21 31
Keep appropriations growth within population growth + inflation Don’t use the Economic Stabilization Fund
Phase Out State and Local Subsidies & Abatements. Some possibilities: ◦ Event Trust Funds ◦ Art and Film Subsidies ◦ PUC Energy Efficiency Program ◦ Texas Emission Reduction Plan ◦ Agricultural Loan Guarantee Program ◦ Renewable Energy Credits ◦ Texas Enterprise Fund ◦ Skills Development Fund ◦ Chapters 311, 312, 313, & 380 ◦ 4A & 4B Economic Development Sales Tax
Title Insurance Medical Scope of Practice Telemedicine Restrictions Occupational Licensing Alcoholic Beverage Control
The Pretenders ◦ Louisiana: Ranks 4 th in economic development spending; 33 rd in economic performance ◦ New Mexico: Ranks 1 st in economic development spending; 36 th in economic performance ◦ California: Ranks 31 st in spending per capita; 50 th in adjusted poverty rate ◦ New York: Ranks 3 rd in economic development spending; 26 th in economic performance
The Contenders ◦ Florida: Eliminated Enterprise Florida; ranks 50 th in per capita spending; 18 th in economic performance ◦ North Carolina: Ranks 43 rd in per capita spending; 21 st (out of 32) in economic development spending; 8 th in economic performance ◦ Washington: Ranks 34 th in per capita spending; 32 nd (out of 32) in economic development spending; 2 nd in economic performance
State Per Capita Spending: Ballotpedia – https://goo.gl/0SeYMm State Economic Performance Rankings: Rich States Poor States – https://goo.gl/XtjcZk State Economic Spending: W.E. Upjohn Institute for Employment Research – https://goo.gl/UBvypk Adjusted Poverty Rankings – Texas Public Policy Foundation - unpublished
Texas’ Largest Companies: Office of the Governor - https://goo.gl/kIVNq9 Texas’ Ten Largest Corporate Welfare Recipients: Good Jobs First- https://goo.gl/OxeBWv Fastest Growing Small Businesses in Dallas: SMU/Caruth Institute - https://goo.gl/OxeBWv
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