Quote:
Originally Posted by Hill Country
According to the Granbury guy they can do anything except use state funds destined for economic development.
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I didn't write that. What I've been trying to say all along was that I was against both the city and state wasting $250 Million of general funds over 10 years on a race.
That $250 Million could be spent on many other more worthy projects - like roads, schools, and hospitals. Of course, you can and many have argued that these revenues are self generated, that the event itself raises additional taxes. Which is probably true. The same can be said about using TIFs to fund specific projects within the TIF area. But in the case of TIFs, higher tax
rates are levied. In this case over race funds, higher tax
rates are NOT levied.
The general fund needs to be respected, kept whole, and not piecemeal away for special events. Do we charge liquor taxes to directly support bars and lounges that raised them? Or do we place liquor tax revenues into general revenues so that it can be spent on more worthy programs? The reason so many general Texas programs are being cut is because too many "special" interests and programs funded from general revenues aren't. And please don't suggest the F1 race isn't a "special" interest.
I'm not against the race, I was and will be forever against the State bribing "special" interests with public funds.