from the Texas Observer:
Slush Fun
At least one Texan has benefited from Rick Perry's Enterprise Fund.by Dave Mann
Published on: Thursday, March 11, 2010
For the past six years, Texas Gov. Rick Perry has lorded over a controversial stash of taxpayer money known as the Texas Enterprise Fund, dispensing huge sums—$345 million and counting—to large corporations, ostensibly to spur job growth. Critics call it the governor’s slush fund. “He takes from us so that he can play with his corporate slush fund and award his friends’ businesses,” said Debra Medina, one of Perry’s two challengers for the GOP gubernatorial nomination, at a recent candidate’s debate.
Perry defends the fund as a much-needed economic-incentive program. He credits the disbursements with creating 55,000 jobs in Texas and helping keep the state’s economy out of recession. Whether the program has boosted the state’s economy depends on your point of view. But at least one Texan has greatly benefited from Enterprise Fund outlays—Rick Perry.
Many companies that have received money from the fund have, in turn, aided the governor. An Observer investigation has found that 20 of the 55 Enterprise Fund companies have either given money directly to Perry’s campaign (through their political action committees or executives) or donated to the Republican Governors Association, a Washington, D.C.-based group that Perry presided over in 2008.
The 20 companies have received a combined $174.2 million from the Enterprise Fund. During the same time period, those 20 corporations have donated $2.2 million to Perry and the governors association. Several companies made donations around the time they received grants from the Enterprise Fund. It’s even possible that taxpayer money from the fund came full circle into Perry’s own campaign. ................(more)
The complete piece is at:
http://www.texasobserver.org/cover-story/slush-fun
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