Federal Tax Proposal Could Cost Texas over 100,000 Jobs
Texas Association of Business Released Preliminary Report
09/14/2021

Austin —Texas Association of Business (TAB) released a preliminary report it commissioned stressing the negative economic impact of the proposed changes to the Global Intangible Low-Taxed Income (GILTI).


The report found that the proposed changes could cost Texas as many as 107,000 direct and indirect jobs, resulting in $3.1 billion in lost wages and $6.5 billion in lost gross state product if the proposed GILTI tax changes are enacted. 

“At a time when we are struggling to recover from a global pandemic, we need incentives for businesses to create jobs and ramp up production. This drastic increase to the GILTI rate would slash Texas jobs and hurt the ability of American companies to compete internationally. We need to support economic and business recovery and relief, and any proposed tax changes must further that shared goal and certainly do no harm,” TAB CEO Glenn Hamer said. 

 

This preliminary report prepared on behalf of TAB by EY’s Quantitative Economics and Statistics (QUEST) groupand the Bureau of Business Research, University of Texas at Austin can be found here.


View the press release here.

 

TAB CEO Glenn Hamer Released Statement on Biden Business Mandate
09/09/2021

AUSTIN, TEXAS – The CEO of the Texas Association of Business (TAB), Glenn Hamer, released the following statement in response to President Joe Biden's vaccine mandate for businesses with 100 or more employees:

 

“The Texas Association of Business believes that the COVID-19 vaccine is the most effective way to prevent the transmission of COVID-19 and get Texas’ economy back on its feet,” said TAB CEO Glenn Hamer. “However, today’s announcement requiring the vaccine for private enterprises sets a frightening precedent that could be used to justify any manner of regulation on business, and TAB stands in opposition to this mandate. Furthermore, the President’s decision was made without consultation from the business community which will almost certainly lead to the further politicization of COVID-19. While certain special interests have a direct line to the White House, our nation’s employers have been shut out.”

View the press release here.

 

Governor Greg Abbott to Keynote Best Companies to Work for in Texas Gala
08/23/2021

AUSTIN, TEXAS – The Texas Association of Business (TAB) today announced that Governor Greg Abbott will serve as the keynote speaker for the “Best Companies to Work for in Texas Gala” on October 4th. The Governor will also be receiving the inaugural Guardian of Capitalism Award, recognizing his unparalleled contributions to the Texas business community.


“We are honored to have Governor Abbott headline this year’s gala, where we will announce the rankings of the Best Companies to Work for in Texas,” said TAB CEO, Glenn Hamer. “The Lone Star State is the epicenter of economic development, and no one in our state has done more to help businesses succeed than Governor Greg Abbott.” 

View the press release here.

Governor Abbott Ends Texas Participation in Supplemental
Unemployment
5/18/2021

Austin, Texas

 

AUSTIN – Texas Governor Gregg Abbott announced today that the state will no longer participate in the federal supplemental unemployment benefits program, citing the strong momentum in the economy as it reopens.

 

On May 13, TAB, along with more than 50 business associations and chambers of commerce, sent a letter to Governor Abbott and the Chairman of the Texas Workforce Commission, Bryan Daniel, asking them to consider ending Texas’s participation in this program.

 

“Today’s announcement is a boon for businesses who are struggling to get back on their feet in the wake of the COVID-19 pandemic,” said TAB CEO, Glenn Hamer.

View the press release here as well as the TAB business survey on the program here.

Texans Weigh in on Election Reform

5/4/2021

Austin, Texas

 

AUSTIN – The Texas Association of Business (TAB) today released the survey results on Texas election reforms currently being considered by the Texas legislature.

 

The poll was conducted by Baselice & Associates on behalf of TAB’s membership. “These survey results show that voters support ease of voting, ballot security and uniformity across the state, while opposing the federal government dictating election laws in Texas,” said Baselice CEO and President, Mike Baselice.

 

“As state leaders work to achieve even greater security and participation in the electoral process, the Texas business community encourages the legislature to work in a bipartisan fashion to meet these goals,” said TAB CEO, Glenn Hamer.

View the key findings of the poll here

Statement on the Situation at the U.S. Capitol Building

1/6/2021

Austin, Texas The following statement in response to the situation at the U.S. Capitol building should be attributed to Aaron Cox, Acting Chief Operating Officer, Texas Association of Business:

 

“What we are witnessing at the U.S. Capitol today is a tragic moment for America and our democratic process which allows and safeguards our freedom and free enterprise system which have made our government and economy the strongest, most prosperous and greatest on earth. This threat to our democracy must end, and our leaders in Washington should work to allow the peaceful transfer of power to proceed. Today’s insurrection runs counter to our US Constitution and the rule of law.

 

“We in the Texas business community are working to get Texans back to work, help Texans recover from this pandemic, and build back our economy even stronger. Today’s violence in Washington, DC, is antithetical to the hard work and spirit of America’s job creators and workers in building a prosperous and free nation for all.

 

“We ask our President, President-elect and our elected officials from all parties and philosophies to work to calm our nation, end this insurrection, and pray for the safety of all of our leaders and first responders in Washington and Austin during this critical moment for our country.”