In appearances in San Antonio and Houston, gubernatorial candidate Greg Abbott has hinted he may not be the biggest fan of the state’s corporate welfare programs.
Those funds, such as the Texas Enterprise Fund and Emerging Technology Fund, were created to encourage businesses to relocate or expand into Texas. Sounds like a great plan, except for the fact that these programs have awarded hundreds of millions of taxpayer dollars to businesses over the years with a very poor return-on-investment.
Abbott has repeatedly said he does not want to be “involved in government picking winners and losers.” And, while he has yet to come out and say he intends to end the Texas Enterprise and Emerging Technology funds, he has also said he believes the “best incentive for business is a good tax structure.”
It sounds as though the aspiring governor is taking a good stance against crony corporate welfare programs, which have proven an ineffective, if not a failed endeavor.
Low taxes and a strong free market will keep the economic climate in Texas conducive to job growth and creation, and serve as the best encouragement for businesses to move to Texas.
Seeing Mr. Abbott come out against the Texas Enterprise Fund and Emerging Technology Fund is encouraging, but voters must remember to keep the pressure on him to hold fast.