AUSTIN – Today the Texas Public Policy Foundation released Growing the Economy without Growing Government: Eliminating Taxpayer-funded Corporate Subsidies. The paper, written by Vice President for Research & Planning and Center for Economic Freedom Director Bill Peacock, shows that the rapid growth of the Texas economy is due to free market policies, not government-run economic development programs.
“Low taxes and less bureaucratic regulation is the best way to boost economic development in Texas. We should phase out existing state and local economic development programs,” said Peacock. “If we want to help businesses create jobs, we should cut their taxes—along with everyone else’s, rather than give them corporate subsidies paid for with taxpayer money.
“State-run economic development programs do more harm than good. Not only do they fail to grow the economy, they often trample the rights of citizens who don’t have access to the political process.”
To read the full report, visit: http://txpo.li/growing-the-economy
Bill Peacock is the vice president of research & planning and the director of the Center for Economic Freedom at the Texas Public Policy Foundation.
The Texas Public Policy Foundation is a non-profit, free-market research institute based in Austin.
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