House Overwhelmingly Passes New Corporate Welfare Scheme
From the Texas Minute by the Texas Scorecard
More than two-thirds of the Texas House voted yesterday in favor of a new corporate welfare scheme operating on the backs of taxpayers. As Sydnie Henry reports from the Capitol, only 11 Republicans voted against the measure that has been criticized as “picking winners and losers.”
https://texasscorecard.com/state/texas-house-lawmakers-approve-corporate-welfare-expansion/
House Bill 5 by State Rep. Todd Hunter (R–Corpus Christi)—one of Republican House Speaker Dade Phelan’s legislative priorities—gives corporations taxpayer-funded property tax breaks ostensibly in exchange for the creation of local jobs.
The new giveaway is the successor to what had been known as the “Chapter 313” program, named for its section in the state’s tax code. That section expired last year. It had been widely criticized for its heavy subsidization of unreliable energy producers, such as wind and solar plants.
Although Hunter says that HB 5 includes no explicit provisions for those energy producers to access the funds, critics note that there is no explicit prohibition, either. State Rep. Matt Schaefer (R-Tyler) tried to strengthen that language with an amendment but was rebuffed by his colleagues.
HB 5’s future in the Senate is uncertain. While Lt. Gov. Dan Patrick has said he is open to a plan that doesn’t subsidize unreliable energy, it remains to be seen whether he will be eager to pass one of Phelan’s priorities while Senate priorities languish in the House.
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