Watson Criticizes Combs, Tax Subsidy Programs
State Sen. Kirk Watson, D-Austin, criticized Republican Comptroller Susan Combs on Wednesday, saying she had a “cavalier” approach to doling out millions of dollars in tax incentives, including the award eventually granted to the promoters of F1 auto racing.
Watson emphasized that the F1 race and the Austin track where it was recently held will create positive economic development for years to come — and deserved to have the state as a partner. He helped draft the legislation that made it happen.
But Watson said Combs mishandled the tax subsidy program and is calling for changes in the way “events trust ...
Comments (6)
A Lerma Stickelbault via Texas Tribune on Facebook
Needs structured oversight before this happens again.
Joel Smith Goering via Texas Tribune on Facebook
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Neil Moyer via Texas Tribune on Facebook
$$$ should go only for local government costs, not handouts to wealthy...
Debbie Russell
It would help people understand WHY it was wrong for Combs to singularly certify funds from the METF (via a simple letter). The entity has to go through steps to APPLY for funds. They have to first get a municipality to agree to partner with them as a host city AND they have to demonstrate they've gone through a competitive process by proving they have negotiated with other places around the country. None of this happened before Combs shot off a certification letter, practically foaming at the mouth while promising away our precious tax dollars.
THANK YOU ROBERT WOOD FOR FINALLY ADMITTING WHAT WE'VE BEEN SAYING FOR ALMOST 3 YEARS NOW! So, Greg Abbot, are you going to prosecute Combs for breaking the law? The money has been given...illegally. Isn't anyone going to be held accountable? Shouldn't we get it back from F1? Sen. Watson? What's the next step?
Andy Homer
I'm confused by this since my recollection is Senator Watson authored the bill that allowed the F1 group to participate in the METF, and he pushed through the initial $25 million appropriation that was intended to pay for the first year F1 sanctioning fee. The Tribune should clarify the history on this.
Brian Ortego via Texas Tribune on Facebook
Does COTA & Red McCombs require corporate welfare to make every event viable? Like Apple, COTA asks for tax money because it's there for the taking by self-serving politicians. F1 was added to the list of events that meet the METF criteria, but now COTA wants handouts for every other smaller event it plans to host at the track. (MotoGP, American Le Mans Series and World Endurance Championship)