Sound fiscal policy must begin with spending restraint. Gov. Kim Reynolds and the Republican-led Iowa Legislature continued to follow pro-growth fiscal conservatism during the most recently concluded session. The Legislature passed an $8.1 billion FY 2022 state budget, which provided an estimated $1 billion in tax relief to taxpayers instead of growing government. This brings...
The regular session of the 87th Texas Legislature has ended, and time has come to take stock of the changes that will follow. In terms of economic development, the Legislature ended one program, created a new one, and passed bills that will increase transparency. The biggest transformation relates to the Texas Economic Development Act, better...
Texans will benefit from the policy wins achieved in the 87th Texas Legislature. Among other things, lawmakers: Passed a Conservative Texas Budget Strengthened spending limits Maintained property tax relief Improved taxpayer protections Reduced regulatory barriers The Texas budget, SB 1, came in below the Conservative Texas Budget—in fact, it is about $5 billion below the...
Headline Numbers: The month of May produced another disappointing jobs report from the Bureau of Labor Statistics. Nonfarm payrolls increased by 559,000 which was 91,000 below expectations. The unemployment rate fell by 0.3% to 5.8%; economists expected 5.9% for May. The number of unemployed fell by 496,000 to 9.3 million and the number of permanent...
In San Francisco in 2020, the number of opioid overdose deaths, 697, was more than twice as high as the city’s COVID-19 deaths, 257. Yet California lawmakers, so quick to lock down the economy, issue stay-at-home orders and mandate masks, are taking a very different approach to the opioid epidemic – giving people with drug addictions a so-called...
“Imagine the suspicion, the jokes, the memes.” Mexican President Andres Manuel Lopez Obrador, “AMLO,” presides over a country ravaged by cartel violence and spiking homicide rates, decimated economically by the COVID-19 pandemic, and well behind the curve in immunization rates. Yet on a Monday morning in early May, his concerns about Mexico’s global reputation were...
President Joe Biden released his plan for massive tax and spending increases. It is a budget only in the loosest sense of the word. If you drafted a household budget using the same methodology and ideas as this latest federal proposal, you would soon be heading to bankruptcy court. While it is difficult to determine...
President Biden finally released his FY22 budget proposal on a Friday afternoon before a long Memorial Day weekend. This was good timing for the White House because it helps hide how irresponsible his budget is for America. But Americans know better, and his budget should be rejected and replaced with one that follows a responsible,...
“The loveliest trick of the Devil is to persuade you that he does not exist.” —Charles Baudelaire Gov. Greg Abbott is likely to sign the bill that will effectively ban the teaching of critical race theory in Texas, but its implementation will be key. In the months that CRT has been debated in Texas, it...
It is no secret that pro-growth policies — low taxes and a light regulatory burden — have propelled population growth in Texas and Florida while the opposite has occurred in California, Illinois, and New York. Elected officials’ response to COVID-19 likely accelerated this trend in 2020, with Florida and Texas netting more than half of the nation’s...
With the tragic events of Winter Storm Uri fading into history and the expected success of the main electric grid reform legislation, SB 3, later this week, it is a good time to take stock of what we have learned from the event and what changes we can expect for the Texas electricity market in...
In a very different time — yet in similar economic straits — then-presidential candidate Franklin D. Roosevelt spoke of the “forgotten man,” the American left behind by seismic trends and sweeping changes beyond his control. “These unhappy times call for the building of plans that rest upon the forgotten, the unorganized but the indispensable units...