SBA loan guarantees for sports cars?! NTU’s Pete Sepp cautions against the Small Business Administration’s (SBA) backing loans to luxury car dealers such as Lamborghini with taxpayer money. Sepp said, “These are loans the private sector wouldn’t make so how is it a good idea to have taxpayers backing them when they don’t have the ability to say no to financing these loans.” These failed loan guarantees by the SBA have totaled more than a staggering $8.7 billion. Read the full story at Watchdog.org and Forbes.
The Motley Fool writes on tax abatements, citing NTU’s research on property taxes.
KTRH in Houston covers $500,000 added to the state’s budget for The Texas Almanac. NTU’s Clark Packard is outraged: “If we had our way, this would have been stripped. Under no circumstance do we support $500,000 to subsidize a Texas almanac.” (The Texas Almanac, formerly supported by private funding, includes a history textbook, census, government directory, and atlas.)