Some 90-95% of the finished drugs or the molecules that are used to manufacture them come from the People’s Republic of China. In the event of a supply chain disruption—perhaps triggered by conflict—hundreds of thousands of Texans’ lives will be at risk as critical medicines run out. We know this is a danger, and we should take prudent steps to reduce the risk.
An Overview of the Business Franchise Tax: 2023 – 2027
Texas’s business franchise tax is costly, complicated, and time-consuming to observe. Its negative and distortionary effects should motivate policymakers to eliminate it entirely. Key points: Because of the substantial costs, large and small business owners can often spend more on compliance than on paying the franchise tax itself. Phasing out or repealing the tax altogether...