Taxes in Texas and Tech Under Trump | Biweekly Prosperity Pulse #11
Highlights on Biden's economic legacy and opportunities for a new Trump administration.
Hello Friends!
Welcome to this first February edition of the Prosperity Pulse!
It’s been busy, and we are only one month into 2025! Since my last edition of Prosperity Pulse, Trump has taken office, and there has been a flurry of executive orders. Texas has started its 89th legislative session. I had a great time at The Texan News' 89th Legislative Session Kickoff event. There were many insightful discussions with Congressman Chip Roy, Lt. Governor Dan Patrick, Speaker Dustin Burrows, Chairman Briscoe Cain, and many more legislators, including one of my favorite former senators and current head of The Texan News, Konni Burton!
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Highlights from This Month
1. Unleash American Technology from Biden-era Regulations
The Trump administration, supported by a Republican-led Congress, has a pivotal chance to reverse the damage inflicted by the Biden administration's misguided antitrust policies. I recently released the first Ginn Economic Consulting report in partnership with NetChoice; check it out here.
I write more about this opportunity to undo Biden’s antitrust damage at The Washington Examiner.
The latest tech news was that the Chinese startup DeepSeek AI's assistant became the top downloaded free app on Apple’s iPhone store. I recently discussed what this means for competition in the AI space at NTD.
2. Principles for Budgeting for Prosperity
My new report Sustainable Budgeting: A Pro-Growth Blueprint for Fiscal Responsibility in the States was released this week from The Club for Growth Foundation. It outlines how states can reshape the future by implementing responsible spending practices.
With debt soaring at the federal level and spending pressures rising at the state level, how should policymakers best restrain government growth? Check out my recent commentary on the best approach at National Review.
3. Texas Releases 89th Legislature Budget
Speaking of budgets, the 89th Texas Senate and House released their respective budgets, and I did a deep dive analysis on X to explain what you need to know.
On the Jimmy Barrett Show, I explain what we should do with Texas’ budget surplus and how we can put it back into the hands of the people.
4. Empowering Patients in Healthcare Policy
In 2024, the nation spent a staggering $4.9 trillion on healthcare—more than the entire GDP of Japan. In my new article at The Center Square, I team up with Dr. Deane Waldman (MD and MBA) to propose defunding the bloated system and empowering patients to take control of their healthcare.
Joe Grogan and I discuss healthcare and economic policy reforms on his podcast, DC EKG. He is also a guest on this week’s episode of Let People Prosper.
5. Early Trump Administration Check-In
I discuss the economy in the early days of the Trump administration, Executive Orders that brought federal employees back to work, the role of the Federal Reserve, and more with Nick Craig.
I joined the Joe Pags show to explain President Trump’s proposed External Revenue Service (ERS) and its aim to improve the economy. I also discussed how the plan could address tariffs, reduce government overreach, and boost American prosperity.
On Inauguration Day, I joined Ser Ulrich to discuss the Trump administration’s opportunities to fuel American jobs, address H1B immigration, school choice, and the massive national debt.
6. Biden’s Legacy
Despite his promises of a “build back better” economy, the Biden administration left a troubling economic legacy with policies rooted in overspending, overtaxing, and overregulating, pushing many Americans further from prosperity. I explain more in The Daily Economy.
President Biden also left a legacy of regulatory overreach and heavy-handed policies that stifled economic growth, distorted markets, and limited opportunities for individuals and businesses. My article on X explains what the Trump administration and a Republican-led Congress can do to support the American financial system.
7. Iowa’s Property Tax
Iowa's property taxes have surged by more than 110% over the past two decades. At The Gazette, John Hendrickson and I argue for bold reforms that address the spending side of the equation.
What I’m Learning
Americans for Tax Reform's Patrick Gleason wrote a great article on the trend of income tax cuts we can expect.
John Tillman raises an important question: Beyond just cutting taxes, can President Trump shift Americans' attitudes toward taxes in a way that will lead to truly transformational tax reform in the future?
A Keynesian illusion, indeed! A good explainer of why government spending does not drive the economy from the Mises Institute.
A new study from the Mackinac Center reveals that only one in 11 jobs promised by corporate welfare were created in Michigan.
Despite promises of tax relief, the Texas Comptroller's latest Biennial Property Tax Report reveals a $650 million increase in property taxes for 2023.
Books I’m Reading:
I’m refreshing my knowledge of economist John Maynard Keynes by reading The General Theory of Employment, Interest, and Money. It's not exactly a recommended read, but it’s good to learn what he said about the topic and how big-government folks try to use government to fine-tune the economy at our peril. While he said, “In the long run, we’re all dead,” so the government should act in the short run, I’ve often said that we may wish we were dead with the government controlling our lives.
Let People Prosper Show Podcast
The Let People Prosper Show features deep discussions on hot topics:
Episode 133 (Thursday):
How can we reimagine healthcare to prioritize patients? I interviewed Joe Grogan, founder of Fire Arrow Consulting and a leading healthcare policy expert with decades of private and government experience. We discuss critical issues in public policy, economics, and the future of prosperity.
Episode 134 (Next Thursday):
Don’t miss next week’s episode with Dean Ball, a research fellow at the Mercatus Center. We discuss the nuances of regulating artificial intelligence.Did you miss This Week’s Economy episode 96?
Complimentary Policy Guide
Want to let people prosper in 2025? Don’t miss my guide for state and federal policymakers.
Quote of the Week
Bible Verse of the Week
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