Corporate welfare is when the government favors certain businesses in the form of direct subsidies, tax credits, or favorable regulatory schemes. Sometimes this practice is referred to as “economic development.” This label creates a damaging misconception about corporate welfare, which leads to economic contraction rather than expansion.
Taxes & Spending
Eliminating the School M&O Property Tax
Texas has some of the highest property taxes in the nation. In 2014, the Tax Foundation reported that Texas had the sixth highest effective property tax rate. In 2016, more than 5,100 local tax jurisdictions levied $56.1 billion in property taxes, or $2,000 on average for every Texan—man, woman, and child. And property taxes continue...
September 1, 2018