Texas and Florida have been like Secretariat and Seattle Slew neck and neck sprinting past the other 48 states as they vie for the fastest-growing economy. Neither has an income tax and both are right to work.
Texas Governor Greg Abbott’s State of the State message on Tuesday was right on the mark. He will push for tax cuts as well as dramatic school choice and more parental input into the school curriculum. Parents, Abbott said, “deserve the freedom to choose the education that’s best for their child.”
As for the state’s $33 billion surplus, Lt. Governor Dan Patrick says he believes the legislature will raise the homestead exemption from $40,000 to $70,000, reducing property taxes for all homeowners. He also called for an exemption of $100,000 in business property, up from the current $2,500.
As we’ve frequently said, the gap between the success of Red States and the stagnation of Blue States is one of the most important untold stories today – and Texas is about to widen that gap.