Monday, June 22, 2009

The Texas Economic Model

The Texas legislative session just ended (it convenes only once every 2 years) and the lists of accomplishments are being collected and compiled.

In 2008, Texas created more jobs than the other 49 states combined. In fact, over 50% of the jobs created in 2008 were created in the state of Texas. Texas boasts the most business friendly economy in the country, with low tax rates including absolutely no state income tax.

Texas boasts a completely balanced budget. Under the leadership of governor Rick Perry, who has vetoed more spending than any governor in the country, has just balanced yet another budget. Under Senate Bill 1, signed into law last Friday, Texas will spend 1.6 billion less in general revenue than the previous budget. Thats right, a DECREASE in government spending; the first one since World War II. in addition to this, in a recession, the governor, and Republican-controlled legislature, was able to cut taxes for 40,000 Texas businesses.

Policies like this are why 1000 people move to the state of Texas every single day, and states like California are seeing their businesses filling moving trucks bound for the Lone Star State. I hope our federal lawmakers are paying very close attention.

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