Pledges to strengthen jobs climate, cites importance of protecting Rainy Day Fund
SAN ANTONIO – Gov. Rick Perry today pledged to continue strengthening the jobs climate that has allowed Texas families and small businesses to thrive by keeping taxes low, and discussed the importance of preserving the state’s Rainy Day Fund. The governor spoke at Kel-Lac Uniforms Inc., which provides uniforms for law enforcement agencies and American military troops.
“Small businesses and families have been dealing with the impact of the global recession, finding new ways to tighten their belts, separating wants from needs, and making responsible decisions to live within their means,” Gov. Perry said. “We are obligated to taxpayers to take those same steps, make government more efficient and cut spending without raising taxes and without expending the Rainy Day Fund, which would only delay tough decisions and leave us unprepared to handle bigger emergencies in the future.”
Strengthening the principles that have helped Texas lead the national economic recovery, including maintaining a predictable regulatory climate and fair legal system, remains a priority for the governor. He noted that these principles have helped Texas add more jobs than any other state in 2010, and also helped Texas win Site Selection Magazine’s 2010 Governor’s Cup for most new and expanded corporate facilities announced over the year.
In order to help small businesses continue to succeed, the governor reiterated the need to make permanent the small business tax cut that was passed last session. 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.
In April 2010, the Small Business and Entrepreneurship Council ranked Texas as one of the best states for small business and entrepreneurs in their report, Business Tax Index 2010: Best to Worst State Tax Systems for Entrepreneurship and Small Business. Texas ranked second in the index, based on the cost of the state tax system on small businesses.
In addition, 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 for the ninth year in a row, and no other state is home to more Fortune 1000 companies.