25. Conservative Texas Budget?

In this newsletter, I discuss the latest on the 2022-23 Texas budget, Biden's incomplete budget, costs of raising the corporate income tax, economic situations, and more to let people prosper.

Hello Friend!

I hope you had a blessed week and a prosperous weekend. We had a great time visiting family—even if it was in College Station. Ha!

Vance Ginn @VanceGinn

Great lunch @CoopersBBQAggie with family. #txlege #wreckem @TexasTech #CollegeStation

There was a fun discussion about what is “infrastructure” given that Biden’s $2T+ plan includes very little of it. What about this? :)

Vance Ginn @VanceGinn

Spending limit is infrastructure. Tax cut is infrastructure. Balanced budget is infrastructure. Need infrastructure that limits govt. Most of what’s in #Biden’s $2T+ plan isn’t infrastructure. #Congress #txlege

Kirsten Gillibrand @SenGillibrand

Paid leave is infrastructure. Child care is infrastructure. Caregiving is infrastructure.

Let’s get to the latest info to let people prosper!

TEXAS ECONOMIC AND FISCAL SITUATION

Big News in Texas

• Glad to see the Texas Senate pass the 2022-23 Texas budget below TPPF’s Conservative Texas Budget! Now it’s up to the House to keep it that way.

• Check out my TV interview on Texas Capital Tonight.

  

• How much is enough for government schools? According to too many, MORE! This is a flawed approach that overlooks the unique needs of students and tradeoffs of redistributing taxpayer money from the productive private sector. We should fund students instead of institutions.

• Texas should end crony corporatism by ending the government’s ability to pick winners and losers through Chapter 313 property tax abatements in Texas.

Testimony Before Texas Legislature

• I testified on three key bills before the House Appropriations Committee that you can watch here (at times 00:59:00 for HB 2, 2:08:30 for HB 2021, and 02:18:00 on HB 2896), with HB 2021 being one that received a lot of attention.

• Testified for HB 819 that creates pilot programs to reduce occupational licensing and franchise taxes in disadvantaged areas.

• Testified for HB 1923 that would require a study on supply chains in Texas so that entrepreneurs can have more opportunities to fill those gaps experienced during the pandemic and recent freeze.

U.S. ECONOMIC AND FISCAL SITUATION

• Check out the Ginn Economic Brief on the U.S. economic and fiscal situation after the recent jobs report and fourth-quarter GDP data.

• Biden releases a discretionary budget, but where’s the media on him not releasing a complete budget? The media would never let Trump live that down. More on this from me soon.

• Raising the corporate income tax will not only mean less economic growth and job creation in the U.S., but it will also mean higher combined federal and state corporate tax rates among states thereby reducing their ability to compete on a global playing field.

• The White House claims they can put people to work…that’s false, and the “infrastructure” bill would be a disaster for Americans.

TEXAS OPEN, NOW OPEN AMERICA

• I’m shortening this section but here is a summary of the COVID-19 Situation in Texas. You can find more TX DSHS data here

Closing Thoughts

Let us focus on these Godly words this week:

Vance Ginn @VanceGinn

#GodIsGood #SundayVerse

Here’s a quote from one of my favorite economists Milton Friedman:

Vance Ginn @VanceGinn

Why do we put the federal government in charge of so much? 🤔

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Vance Ginn, Ph.D. | www.vanceginn.com | #LetPeopleProsper