Inflation is Here

What to know: Americans are already paying higher prices for goods and services.

The TPPF take: Inflation is just a tax by another name.

“Inflation originates in one place: behind the façade of a Greek temple on Constitution Avenue in Washington, D.C.—at the Federal Reserve,” says TPPF’s E.J. Antoni. “The Fed can create money out of nothing—or more technically, create money out of government debt. Only the Fed can churn out unlimited money, and that is why only it can cause inflation.”

For more on inflation, click here.

Give Me a Break

What to know: Tech giant Samsung is asking three Central Texas school districts for massive tax breaks. But it acknowledges that it will bring only three permanent jobs with the solar project.

The TPPF take: These tax breaks, referred to by their portion of the tax code, Chapter 313, rarely help struggling districts.

“At best, these incentives do not work; at worst, they can be harmful,” says TPPF’s Carine Martinez. “It’s hard to understand how Chapter 313 could be described as an economic development tool that brings investments and jobs to Texas, yet allows school districts to simply waive the job requirement.”

For more on Chapter 313 agreements, click here.

Abused and Upset

What to know: El Paso parents are mad after learning of outgoing Socorro ISD superintendent’s $600,000+ severance package. Speaking to a local news outlet, some residents “said it seems excessive especially in the middle of a pandemic.”

The TPPF take: Socorro ISD isn’t the only school district giving its executives golden parachutes on their way out. In fact, the practice has become common.

“Socorro ISD and other school districts are giving golden parachutes to high-ranking public sector executives, leaving fewer dollars available for the classroom,” says TPPF’s James Quintero. “Texans need state lawmakers to step in and stop this abuse by passing new laws, like House Bill 3775, to reform severance payments. It’s time that we protect taxpayers and put students first.”

For more on superintendent payouts, click here.