King Calls for a Smarter, Limited Government Approach to Job Creation

December 3, 2009

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Against the backdrop of the White House Jobs Summit being held today, State Representative Phil King (R-Weatherford) called for a smarter, limited government approach to job creation that is a proven alternative to federal “stimulus” spending and intervention in the private sector economy.

Although Texas remains better off economically than the rest of the nation, the most recent unemployment figures illustrate the imperative for a targeted and responsible state-level plan to grow the economy and create jobs.

King stated, “We know that the federal stimulus package has failed. The national unemployment rate now stands above 10 percent and each job purportedly ‘saved or created’ has cost taxpayers $250,000. If President Obama wants ideas on how to get the economy back on a sound footing, he should look to Texas.”

Texas’ unemployment rate of 8.3 percent is too high, but remains lower than the national rate of 10.2 percent and the 12.5 percent rate in California. Texas remains relatively strong in large part because taxes are comparatively low, lawsuit reform has been a success, insurance reforms have worked and sensible state spending has allowed the state to put a sizeable deposit in the Rainy Day Fund.

King pledged, “Over the next year, I will continue to build support for policies that are proven to work: cutting taxes and letting the free market work. The Obama way is the wrong way.”

“So far, Texas has weathered the current economic crisis relatively well thanks to sound tax policies and targeted job growth programs put in place over the last six years,” noted King. He continued, “We must engage in a vigorous debate about state fiscal and economic policy. Washington must hear that there is a better way to create jobs: the Texas way.”

King concluded, “We know tax cuts and workforce development programs work. My job is to make sure that before the next session begins we develop a plan to help Texas remain the economic leader nationally.”