Economic Benefits of Tort Reform: An assessment of excessive US tort costs and potential economic benefits of reform
Report Published on February 01, 2022The civil justice system is a crucial institutional framework in America. When working properly, the system provides a fair and equitable forum for the resolution of disputes among parties, appropriately compensating those that have legitimately been harmed. Additionally, it acts as an effective deterrent to undesirable behavior. As part of this framework, tort litigation can be highly beneficial to society in terms of promoting equal and impartial justice as well as establishing part of the critical context in which economic activity can prosper.
- Tags:
- damages,
- justice system,
- litigation,
- tort,
- tort reform
The High Cost to Texas of Census 2020 Undercounts
Report Published on November 16, 2021Accurate Census counts are far more than just a matter of interest. They are important to ensuring adequate federal funding for various programs and appropriate representation in Congress. In addition, the Census is crucial to understanding population and demographic trends in order to plan for the future.
- Tags:
- Census,
- demographics,
- population,
- Texas
An Assessment of the Potential Impact of Expanding Inter Partes Review (IPR) Under the America Invents Act on the US Economy
Report Published on September 23, 2021Innovation has long been recognized as the key factor supporting US economic growth and competitiveness. A critical element of the infrastructure facilitating product development and commercialization is the system that protects intellectual property and encourages its widespread adoption and implementation. The current framework that facilitates this process includes the LeahySmith America Invents Act (AIA) and the Patent Trial and Appeal Board (PTAB). The AIA and PTAB reduce the need for and cost of patent litigation, reducing transaction costs and generating substantial economic benefits. Potential expansion of the AIA to further enhance its applicability could lead to notable additional gains.
Potential Economic Consequences of Texas and OU Leaving the Big 12 Conference
Report Published on July 28, 2021The University of Texas and The University of Oklahoma recently announced that they would soon be leaving the Big 12 Conference to join the Southeastern Conference. Without Texas and OU, the rest of the conference is undoubtedly facing smaller television deals, lower attendance, and other negative consequences. The result would be reductions in athletic revenue, tourism, and economic benefits for affected communities.
- Tags:
- Big 12,
- Big XII,
- impact,
- NCAA,
- Oklahoma University,
- OU,
- University of Texas,
- UT
The High Cost of Cutting the Surplus Agricultural Products Grant
Report Published on February 10, 2021Since the COVID-19 pandemic began, the number of Texans seeking food bank assistance has risen 200%. This dramatic increase in food insecurity has caused immeasurable stress and suffering, eroding the health and wellbeing of people across the state. In the midst of this greatly increased need for help, the surplus agricultural products grant, a key aspect of food bank support, has been drastically cut. If this reduction remains in place, the opportunity to acquire almost 20 million pounds of healthy local produce will be lost. Hunger involves quantifiable economic costs in the form of increased health care and social service needs, inferior educational outcomes, and lost productivity. The Perryman Group estimates that cutting the surplus agricultural products grant would cost the state economy hundreds of millions of dollars over time, with economic harms spreading across the entire economy. Because economic activity generates taxes, the cut would also lead to reductions in State and local taxes. State costs for health care and education would also rise due to the effects of hunger.
It Just Makes Sense: Economic and Fiscal Benefits to Texas of Accessing Additional Federal Funds for Health Insurance Expansion
Report Published on December 14, 2020Texas is one of only 12 states that have not yet chosen to expand health insurance coverage to low-income adults using the financially attractive mechanism created with passage of the Affordable Care Act (ACA) in 2010. In addition to enhancing the health and wellbeing of individuals directly affected, expanding health insurance coverage involves substantial economic and fiscal benefits.
- Tags:
- expansion,
- health care,
- health insurance,
- Texas
The Economic and Fiscal Benefits of The University of Texas Permian Basin
Report Published on October 05, 2020The educational opportunities offered by The University of Texas Permian Basin enhance employment prospects for students and improve the regional workforce and economic development potential. In fulfilling its primary role, UT Permian Basin generates a significant economic stimulus as well as incremental tax receipts. The University provides direct well-paying jobs, engages in major projects, and supports important research. Graduates are essential to the current and future business complex and enhance the competitiveness of the area. These activities contribute to the economy of the local area, region, state, and nation.
The Economic Benefits of Potential Cost Savings Associated with Emergency Services Districts
Report Published on September 16, 2020Emergency Services Districts (ESDs) are local political subdivisions of the State of Texas that may provide fire, rescue, emergency medical services, and other emergency services. ESDs are designed to ensure adequate and stable funding for local emergency services, and in Texas, there are currently 334 ESDs in 94 counties with new districts formed every year.
An Assessment of the Impact of Covered Business Methods Proceedings before the Patent Trial and Appeal Board on the US Economy
Report Published on September 16, 2020The Leahy-Smith America Invents Act (AIA) and the Patent Trial and Appeal Board (PTAB) are crucial aspects of the US system of intellectual property protection. The AIA and PTAB reduce the need for patent litigation, reducing costs and generating substantial economic benefits. One type of patent which has been protected involves covered business methods (CBM). CBM patents deal with methods or corresponding apparatus for performing data processing or other operations used in the practice, administration, or management of a financial product or service. (Technological inventions are excluded from CBM.)
Three Decades of Growth and Prosperity: The Impact of Projects Facilitated by the Texas Sales Tax for Economic Development
Report Published on August 13, 2020Texas has been one of the strongest performing states in the US for a number of years, attracting more major corporate locations and expansions than any other and regularly topping lists of the best places to do business. As examples, the state has won the "Governor's Cup" for the most major projects for the past eight consecutive years and was recently named the "State of the Decade" by Site Selection magazine.
- Tags:
- economic development,
- manufacturing,
- sales tax,
- Texas