32. Texas Legislature Sine Die: Much Winning But Incomplete
In this newsletter, I discuss the details of the 87th Texas Legislature, the Responsible American Budget, irresponsible Biden budget, jobs reports & inflation, and much more to let people prosper.
Hello Friend!
It’s been a while. Thanks for sticking with me in this journey as the last few weeks have been very busy with the end of the legislative session in Texas along with other things going on. But wait…have you signed up for this newsletter yet? Do you know someone who should? Please subscribe and share with others.
As always, my motto: Free-market capitalism best lets people prosper!
Before I get into the latest economic and fiscal issues, please take some time to read part of my testimony of God bringing me to where I am today. May 25th was the 19-year anniversary of the turning point in my life. Read my write-up on it at this tweet.
After the legislative session, I had a nice relaxing time with the family! It’s been a trying few months, but there’s nothing like spending time with family—even if fishing is a bit frustrating. HA!
Now let’s get to the economic and fiscal situations in Texas and D.C.
TEXAS ECONOMIC AND FISCAL SITUATION
Big News in Texas
Latest Ginn Economic Brief on the Texas economic and fiscal situation.
High tax states like New York and gains for lower tax states like Texas.
Other states pass a conservative budget: Conservative Iowa Budget
Testimony & Key Legislation Before the Texas Legislature
Here are TPPF’s top five wins in an incomplete session because of Democrats leaving early before key legislation like election integrity, bail reform, taxpayer-funded lobbying, and preempting local labor laws that may be addressed in a special session to bring even MORE WINS! See the fiscal wins here (these were huge wins!).
Texas passed a Conservative Texas Budget well within the range of what is fiscally responsible and codified the limited spending growth formula into law with SB 1336.
This results in the Texas Legislature passing a budget that grows, on average, less than the Conservative Texas Budget based on population growth plus inflation for four straight sessions! See more details here.
Texas stopped Medicaid expansion and created new affordable options for the uninsured.
Texas ended a 20-year corporate welfare program of Chapter 313 that contributed to energy instability, and it barred state agencies from contracting with companies that divest from, boycott, or sanction fossil fuel companies.
Texas banned state-sponsored racism in our schools (known as “critical race theory”) and reaffirmed the importance of America’s founding documents in K-12 education.
Texas built upon successful child welfare reform to bolster parental rights and shift from a punitive approach toward one that prioritizes preserving and strengthening families.
Texas passed key bills to provide property tax relief.
Texas also passed key bills that help improve the livelihoods of Texans as promoted by TPPF’s Opportunity Project.
U.S. ECONOMIC AND FISCAL SITUATION
Thread on the weaker than expected U.S. jobs report for May. New federal unemployment bonuses continue to stimulate unemployment. Ugh.
The reaction to my publication of the Responsible American Budget was huge.
Check out this thread for details. I’m thankful for all of the support by many academics, policymakers, and thought leaders who are champions of fiscal conservatism. We’ve got a lot more to do but this has been a great start!
Commentary on how deficits were always bad but spending is the problem.
Commentary on failures of Bidenomics!
Don’t miss my thread on the irresponsible Biden budget and what to do about it.
And watch my interview here as I take the Biden budget to school!
Here’s my interview on @news_ntd with @PaulGreaney_NTD on #Biden’s irresponsible #budget2022. Instead, we need a pro-growth path with @TPPF’s Responsible American Budget. mb.ntd.com/expert-analyze… @RealBPhil @ChuckDeVore @gcollinstx @SenatorBraun @chiproytx #Congress #txlege
Commentary on poor tax policy in Biden budget, and G7 agreement on 15% minimum corporate tax rate is nonsense.
Check out my conversation with Congresswoman Ashley Hinson about the U.S. economic and fiscal situation.
TEXAS OPEN, NOW OPEN AMERICA…
Here is a summary of the latest in the COVID-19 situation in Texas as of 5/23/2021. Given the evidence of the situation and questionable results of mandates and restrictions by governments at every level, it’s good that the state ended its restrictions on March 10, 2021 (two months ago) but it’s time to end all restrictions. More on TX DSHS data here.
Interesting post here.
Closing Thoughts
This is essential when considering policy changes (more on Sowell):
My prayers this week are focused on the following verse:
Thank you for reading this newsletter and sharing it with your network. I pray that we have much strength no matter the circumstance as God is always on our side. Many blessings to you and yours.
Vance Ginn, Ph.D. | www.vanceginn.com | #LetPeopleProsper