HB 4429 by Landgraf: Expanding Corporate Welfare

HB 4429 seeks to establish an incentive for the construction of new dispatchable natural gas generation facilities through tax abatement agreements with school districts. Ultimately, HB 4429 amends Chapter 312 to provide for a tax abatement to natural gas­fired electric generating facility projects that provide dispatchable electric power for the ERCOT power grid in a reinvestment zone created by a school district. 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.