By

Raul Torres CPA

Summary

It is no secret to the rest of the nation that the State of Texas has something unique to offer. Despite a national recession that has crippled the economy, our state economy has continued to grow. Texas is consistently among the top states in the nation for job creation, economic growth, and business climate. Individuals and businesses are attracted to moving here because of our low level of taxation, predictable and low levels of regulation, strong property rights protection, sounds justice system, and minimal dependence on the federal government. Texas is a great place to live, but it can be better.

During the 82nd Legislative Session, Texas faced an unprecedented budget shortfall, a hole that was caused by over spending and kicking the can down the road. Last session those who voted for the appropriations bill deferred Medicaid spending, cut funding to education, did not fund k-12 enrollment growth, and did not use funds for their purpose in order to certify the budget. Now we face the prospect of closing another budget gap of up to $6 billon.

But raising revenue is not the answer. We cannot tax our way to prosperity, and I believe there are better ways to solve these challenges. Some ideas are new, many are not, but I believe we must have a plan to foster continuous improvement.

Prioritize, Stabilize, and Incentivize: An Economic Plan for Texas in The 21^st Century, presents a blueprint for keeping Texas great and making it even stronger in the years to come.  It shows us how we can be creative in growing the Texas economy.  It shows us that there are alternatives to higher taxes and deeper spending cuts that rob our citizens of their ability to live, work and prosper. And finally it calls for the legislature to take bold steps to rein in spending, encourage economic development and take a leadership role as Texas transforms itself into a 21st century state.

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Prioritize, Stabilize, and Incentivize: An Economic Plan for Texas in the 21st Century