HB 1058 by Goldman: Tax Credits & Corporate Welfare

HB 1058 seeks to provide for franchise and insurance premium tax credits to certain low-income housing developments approved by the Texas Department of Housing and Community Affairs as incentives to encourage investment by private investors in developments they would not normally invest in due to the same housing developments often not generating sufficient profit to warrant such investment. These incentives are antithetical to free enterprise and encourage the government to pick winners over losers. For these reasons, TFR opposes HB 1058.