Gov. Perry: We Must Continue to Create Opportunity for Texas Families and Employers
Gov. Rick Perry today highlighted the importance of strengthening the sound fiscal principles that have made Texas the best state to live, work and raise a family, and reiterated his commitment to preserving the state's Rainy Day Fund. The governor traveled to Tyler and then to Dallas, where he was joined by Americans for Tax Reform President Grover Norquist, Texas Public Policy Foundation Center for Fiscal Policy Director Talmadge Heflin and Texans for Fiscal Responsibility President Michael Quinn Sullivan to discuss the state budget and Texas' job friendly economic climate.
"Our Rainy Day Fund is a valuable insurance policy against a future that continues to be uncertain on a national and global scale, and must be used as an absolute last resort, not a quick fix," Gov. Perry said. "Here in Texas, we know you can't tax and spend your way to prosperity, and as long as we remain committed to our job friendly principles, such as low taxes and a fair legal system, we will continue along a successful path for Texas families and employers."
Strengthening the principles that have helped Texas lead the national economic recovery and add more jobs than any other state in 2010, including keeping taxes low, and maintaining a predictable regulatory climate and fair legal system, remains a priority for the governor. The governor is committed to keeping taxes low in order to help small businesses continue to succeed and create jobs, and reiterated the need to make permanent the small business tax cut that was passed last session. This measure cut taxes for 40,000 small businesses, and allowed them to focus on job creation and growing their businesses.
Gov. Perry also emphasized his commitment to further strengthening Texas' legal system by creating a "loser pays" system to provide stronger protections against frivolous lawsuits, establishing an early dismissal option for frivolous lawsuits, ensuring new laws cannot create causes of action unless expressly established by the Legislature, and setting up expedited trials and limited discovery for lawsuits with claims between $10,000 and $100,000.
Texas' economy continues to receive national recognition. Site Selection Magazine awarded Texas the 2010 Governor's Cup for most new and expanded corporate facilities announced over the year. Newsweek recently ranked four Texas cities in its list of 10 cities best situated for economic recovery, and described Texas as the top destination for job-seeking Americans. The Wall Street Journal recently credited the state's low taxes and employer-friendly environment with helping make Texas the job creation capital of the nation. Additionally, Texas was recently designated the top exporting state in the nation for the ninth year in a row, and no other state is home to more Fortune 1000 companies.
Americans for Tax Reform
Manda Machine Company
President of Texans for Fiscal Responsibility