Calls for Reform of Incentive Programs Grow Louder
The Texas approach to doling out financial incentives to businesses faced fire on multiple fronts Tuesday, adding momentum to calls for broad reform of the state’s economic development programs.
In the Capitol, the Senate Economic Development Committee discussed adding more transparency and accountability to the state’s patchwork of incentive programs and heard support from attendees for such reforms.
“Obviously things have come up that we need to look into as we’re authorizing the money and all that,” committee chairman Bob Deuell, R-Greenville, said after the hearing. "We need to be satisfied that it’s being spent wisely ...
Comments (11)
Randall D. Craig via Texas Tribune on Facebook
Maybe we should drug test every employee of the firms getting the welfare from the State.
hans5162@ix.netcom.com hans
Perry screams about federal tax incentives for wind power and says we shouldn't be picking winners and losers. On the other hand, it's ok when he or the crony board members he appoints to the Cancer Prevention and Research Institute pick winners and losers. Mostly, Perry picks losers, but they do donate and raise money for him, so it's ok. Texas is a corrupt state and Bill Hammond and the Texas Association of Business are at the heart of the corruption. They talk about free markets and getting the government out of the way of business, but they still want handouts from the government for themselves and nobody else.
Cyn Van Antwerp via Texas Tribune on Facebook
What a great idea!!!
Casey Bennett via Texas Tribune on Facebook
I think that it should be quicker about awarding the incentives. Make the companies given the funds more accountable by simply auditing them on a quarterly basis. The companies should be proud to share the books if they are above board, and even making a little profit. No different than a private investor making sure he will get a return on his investments.
Stephen Wright via Texas Tribune on Facebook
Must prove a reasonable expectation of ROI up front and then go back and make sure they produced results, or get the money back. It's a simple business deal with measurable results. Otherwise it is just more corporate entitlements.
Stephen Wright via Texas Tribune on Facebook
And drug test them, you bet!
Jason Kendall via Texas Tribune on Facebook
Texas is a pitiful joke and it's leaders are clowns.
Proud Texan
If its called welfare when an individual gets it, why isn't it called welfare when a company gets it?
Leon Drozd
For the country at large this stuff does nothing because the jobs "created" in Texas or some other generous State are jobs lost from Indiana or some other State. To the extent the goodies are bond-financed, they are untouchable because the bond underwriting industry spreads from Wall Street to the securities shop in the local mall. How much of the largesse comes from (tax exempt) state G.O. bonds?
Wayne Beamer via Texas Tribune on Facebook
Yes!
Cliff McSparran via Texas Tribune on Facebook
All cities and states are basically blackmailed into giving these to businesses. It's "bidding is open on where we move and create jobs....let the extortion begin!" For Texas to stop participating would mean jobs losses.