The Texas chapter of American’s for Prosperity have unveiled a new project called “Lone Star Strong.” The project’s goal is to highlight the success story that is Texas and that good policies result in prosperity!
Good Policy Produces Prosperity.
Texas has the most vibrant economy in the country today. We at Americans For Prosperity realize that good public policies result in prosperity.
We Texans may from time to time take for granted the relative good economy we are enjoying here in the Lone Star State. Few citizens realize the progress Texas has made to be the best economy in the nation.
Lone Star Strong was launched to show how limited government policies result in economic expansion and prosperity.
Texas, the nation’s second most populous state. Its population grew by almost half a million and accounted for 18 percent of the nation’s total population growth. Texas had above-average immigrant growth, but domestic in-migration was nearly twice as high.
Texas over the decades has had low taxes (and no state income tax), low public spending and regulations that encourage job growth. It didn’t have much of a housing bubble or a housing price bust.
Under Governors George W. Bush and Rick Perry, Texas has placed tight limits on tort lawsuits, and has seen an influx of both corporate headquarters and medical doctors.
Our goal is to educate policymakers and the public on how conservative fiscal policies result in economic expansion.
Anything that is bragging on Texas I can support! Here is the Lone Star Strong “Top 10” list for Texas.
The top 10 ways Texas is #1:
“In the past five years, Texas has created 1.2 million new jobs, and Texas has created half of all the jobs created in the U.S. last year.” –Based on the Texas Workforce Commission’s 2008 Annual Report
Fastest Growing State in the Country
Texas has the Most Fortune 500 Companies
Texas has 64 Fortune 500 companies. In April 2008, Texas passed New York as home to the most Fortune 500 companies with 58 in total. Today, Texas is now home to 64 Fortune 500 companies, with New York still second with 56.
Top State for Business
“According to CNBC, Texas has the best all-around economy in the nation.” CNBC’s 2009 “America’s Top States for Business” rankings gave Texas the number one spot in the economy category.
Top Exporting State
“The U.S. Department of Commerce has named Texas the top exporting state for the seventh year in a row. Texas’ exports increased more than 14 percent over the last year, totaling $192.14 billion, approximately $23.92 billion more than 2007.” –U.S. Department of Commerce properly cited.
One of only 7 States with No State Income Tax
Texas is one of seven states with no personal income tax. Studies have found that state income taxes have a negative impact on economic growth.
Only Large State with a Balanced Budget
Texas is the only big state that doesn’t have a multi-billion dollar deficit, and in fact Texas has an estimated $8-9 billion rainy day fund. Texas is the only large state with no budget shortfall.
“Thanks to the leadership of Gov. Rick Perry, Lt. Governor David Dewhurst, and our Texas legislative leaders, Texas is better positioned economically than any other large state in our country to handle these difficult economic times. When many states raised taxes and went on spending sprees during the boom times, Gov. Perry and the Texas Legislature resisted the temptation to tax and spend as if there were no tomorrow. As a result, Texas has a substantial budget surplus while California is facing a $40 billion budget deficit.”
— Texas Workforce Commission Chairman Tom Pauken
“… Texas has been ranked number one in online transparency out of all 50 states by Sunshine Week, a national initiative by journalism organizations to focus on open government and access information.” –Sunshine Week properly cited. – Link.
“By one estimate, the state’s lawsuit reform measures will lead to the creation of around a quarter of a million permanent jobs and add $36 billion to the Texas economy.” -From the Office of the Governor, September 8, 2004. A more recent study by the Perryman Group in April 2008 said lawsuit reform has created 499,000 permanent jobs since 1995.
“Just a few years ago, the Lone Star State held a position near the bottom of state rankings…”
–A study by the Pacific Research Institute in 2006 found that Texas had the best tort system in the country, and that had the 2003 reforms not been enacted the state would have ranked 26 on their list.
Texas is the Top Energy Producer in the Country and # 1 in Electricity Choice
“Texas has the largest electricity market in the country – 11th largest in the world.” -Statistics available at the U.S. Energy Information Association website.- http://www.eia.doe.gov/
“The Lone Star State has more wind capacity than any other state …” –From the 2009 Annual Wind Industry Report compiled by the American Wind Energy Association.
Texas was first in total installed capacity followed by Iowa, which bumped California to third place.