Congratulations, Texans, we’ve been played the fool by a European billionaire and his well-connected, Texas-based cronies who’ll spend the next decade pocketing $25 million a year of taxpayer subsidies. Formula 1 owner Bernie Ecclestone and a group of local...
While other states have come to their senses about subsidizing Hollywood, Texas' lawmakers continue pumping taxpayer cash into a scheme of dubious value to Texans and our economy. The Wall Street Journal reports today that states are halting the subsidies as they find...
Take a guess at who recently gave this quote regarding the Texas Emerging Technology Fund: “Why are we in this business? Why are we putting public tax dollars at risk with startups that can’t or won’t raise private money?”
Texas Comptroller Susan Combs has it exactly right: “The Texas economy will grow, with or without incentives.” The ‘incentives,’ of course, are government giveaway programs that cost taxpayers a lot without providing much return. It’s time for them to go.
How do you feel about being an “investor” in Formula One racing? Doesn’t really matter; the state of Texas went ahead and took your money in an attempt to get the London-based organization to authorize a race in Austin. If this sounds like just another excuse for folks to race off with your money, it is. And just in time for an historic budget shortfall, no less!