Texas ranks 15th in a new economic outlook analysis, according to a report based on 15 weighted policy measures by a group of nonpartisan U.S. state legislators.
Texas' ranking in the study by Rich States, Poor States was based on an examination of all U.S. state's economic outlooks. The nation's top five states are Utah, Idaho, North Dakota, Nevada and Indiana.
The Rich States, Poor States annual ALEC-Laffer State Economic Competitiveness Index ranks U.S. states' economic competitiveness via more than a dozen weighted policy variables. The report is published by the American Legislative Exchange Council Center for State Fiscal Reform.
"The American Legislative Exchange Council is the largest nonpartisan, voluntary membership organization of state legislators in the United States," te Rich States, Poor States website says. "The Council is governed by state legislators who comprise the board of directors and is advised by the Private Enterprise Advisory Council, a group of private, foundation and think tank members."
Texas' economic outlook ranking was based on variables such as top marginal personal income tax rate, which is zero for Texas as there is no personal income tax rate, and the top marginal corporate income tax rate, which is Texas is 2.62 percent.
The ranking also included property and sales tax burdens, estate or inheritance taxes, debt service as a tax revenue percentage, and the number of public employees per 10,000 residents.
In another RichStatesPoorStates.org ranking, Texas came in second based on the state's economic performance from 2007 to 2017. Texas' economic performance in that ranking was based on the state's cumulative gross domestic product, overall loss of population to other states, and nonagricultural job growth during that time.
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