Harrop: Texas imposing a MAGA nanny state on business
By Froma Harrop / syndicated columnist
Texas Gov. Greg Abbott talks big about his love, love, love for private enterprise; how his state doesn’t tax big incomes and regulates with a light hand. The actual performance of Texas companies —relatively mediocre of late — will not be helped by Abbott’s lust to invade corporate boardrooms and give orders.
One recent law bans state investments in companies that cut ties with the oil and gas industry. Prominent targets for punishment include JPMorgan Chase, Bank of America, Citigroup and Goldman Sachs.
Another stops local governments from working with banks that limit investment in gun companies: A twofer of hypocrisy by self-described conservatives, the law lets Texas politicos inject themselves into the judgments of business executives while curtailing the power of local governments.
As far as one can tell, Texas lawmakers have the right to bar companies from getting state business based on their social priorities. Liberal cities and states have not been above trying to apply their own political litmus tests for government contracts.
But really, is this good for business? Doing backflips to portray themselves as the ultimate right-wingers, Abbott and other defenders of the MAGA nanny state seem to think that the lure of lower personal taxes will overcome any corporate reluctance to move operations to hotbeds of offensive politics.
Texas may be playing with fire. Dell Technologies, Apple, Facebook, Microsoft, American Airlines, IBM and HP have already criticized the Republican leadership for dragging them into some of their right-wing games.
https://www.heraldnet.com/opinion/harrop-texas-imposing-a-maga-nanny-state-on-business/
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