Investors trying to speed off with the taxpayers’ money hit a roadblock late last week: State Sen. Dan Patrick. He struck a blow against the proposed $25 million earmark to subsidize construction of a Formula One racetrack.

The hyped project in southwestern Travis County, outside Austin, would build a European-style “Formula One” racetrack — the first in the nation.

But the Senate Finance Committee on Thursday voted to pull the project off the acceptable list of programs that the state’s “major events” fund could finance.

According to the Business Austin Journal, Sen. Patrick (R-Houston) said he has “a tough time … in these times allocating $25 million for race cars.”

The Austin American Statesman meanwhile reported that the committee also voted to cut the “incentive” taxpayers provide for film companies to shoot in Texas.

But don’t get too excited. The Texas House left intact the crony-capitalism provisions. That means even though they won’t be in the Senate version of the budget, those line-items will very likely end up in the final budget sent to Gov. Rick Perry.

Michael Quinn Sullivan

Michael Quinn Sullivan is the publisher of Texas Scorecard. He is a native Texan, a graduate of Texas A&M, and an Eagle Scout. Previously, he has worked as a newspaper reporter, magazine contributor, Capitol Hill staffer, and think tank vice president. Michael and his wife have three adult children, a son-in-law, and a dog. Michael is the author of three books, including "Reflections on Life and Liberty."

RELATED POSTS

Will Texas Cities Ease Parking Requirements?

Across the state, local governments decide how many parking spots businesses are required to have, whether they actually need them or not. But some cities are waking up and changing course.

5/29/24 The Speaker Race Begins

- Runoff recap. - Tom Oliverson is not backing down, he will challenge Dade Phelan for Speaker. - Dallas ISD organized ‘LGBTQ youth’ trainings for school staff.