Texas Technology Funding Program
Let me see if I have this right: Republicans go after
Democrats for investing in private companies but when Republicans do the same
thing it’s okay? The Dallas Morning
News, on July 25, 2014, ran a story questioning the effectiveness of the technology
fund in Texas and the problems associated with it. It seems that investing money in start-up
operations is a risky business – who knew?
Who decided that was an appropriate use of the taxpayers’ money? If the state’s elected politicians were
experienced venture capitalists then this foray into investing might be fine. But Texas has other, more appropriate uses
for its funds, like the transportation system which has morphed into a
toll-based system or education which has suffered in the budget battles of
recent years. Even the health care system
in the state could be upgraded to include more of the state’s citizens and
better care.
There is also the lack of oversight for the
technology fund. It appears that the
upper level politicians are the ones who choose the companies that are to be
invested in. That can only lead to
charges of waste, fraud, and abuse. Who
is to say the winning companies are the best ones available or just run by the
friends and cronies of the state leaders?
Where is the accountability and transparency that should be there when
dealing with public funds?
Maybe the state should be involved with funds like
this one to help companies grow and prosper to bring more jobs and business to
Texas. But this system needs more
oversight. If the history of this program
shows minimal success or loses state
money, then the program needs to be shut down and the funds moved to areas of
greater need.
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