Representatives of the biggest industry groups in Texas went before the state House Ways and Means Committee last week to warn about the dire consequences that lie ahead if the state’s largest corporate tax incentive program expires at the end of the year.
Supply chain challenges and volatile geopolitics, industry lobbyists said, are pushing major manufacturers—like high-tech chip makers—to expand operations in the United States. And with other states vying to secure new projects with lucrative tax breaks, they warned, Texas will not be able to compete.
“Without these programs, we wouldn’t even be in the game,” told Tony Bennett, president of the Texas Association of Manufacturers, at the hearing last Thursday.
