HB 5 by Hunter: Corporate Welfare Revival

HB 5 seeks to create a new program under the guise of economic development to attract jobs and investment to Texas through school district property tax abatements. In the 87th Legislative Session, the Texas Legislature sought fit to not continue the now-ended Chapter 313 tax abatement program, a system that lacked accountability and transparency. Tax abatements merely shift the tax burden to those who do not qualify for such abatements. If Texas lawmakers truly want to ensure that Texas’ economy remains strong, they would spend their efforts ensuring that all Texans benefit from a low regulation and low tax environment. Government should not be in the business of stealing from taxpayers to give corporate welfare in the form of tax abatements. This practice is antithetical to free enterprise and TFR opposes all subsidies and corporate welfare.