Texas News

Anti-Business SB 6 Could Cost Texas $8.5 Billion
Date:  1/5/2017
ArticleType:  Press Release

Anti-Business SB 6 Could Cost Texas $8.5 Billion 

Discriminatory bill is virtually identical to North Carolina’s job-killing HB 2 law

AUSTIN, TEXAS—Keep Texas Open for Business strongly opposed Senate Bill 6, calling out the just-filed “Texas Privacy Act,” as discriminatory, anti-business, and unnecessary legislation that is poised to have an immediate and detrimental impact on Texas’ economy. The bill is strikingly similar to North Carolina’s HB 2 law. Both pieces of legislation ban transgender people from using public school, university, and government building restrooms, and prohibit municipalities from passing transgender-inclusive public accommodations policies. The North Carolina law has cost the state nearly one billion dollars in lost economic revenue in just under 10 months.

“All Texans care deeply about safety and privacy, but Senate Bill 6 isn’t about either of those things,” said Chris Wallace, President of the Texas Association of Business (TAB), which leads the Keep Texas Open for Business coalition. “Senate Bill 6 is discriminatory and wholly unnecessary legislation that, if passed, could cost Texas as much as $8.5 billion in GDP and the loss of more than 185,000 jobs in the first year alone.”

“Our communities, our families and businesses across this state face a far more uncertain future if this kind of unnecessary regulation is enacted here. We cannot afford the real human consequences and staggering economic impact of slamming the door on the Texas’ history of openness, competitiveness, economic opportunity and innovation,” added Wallace.

 

Supporters of SB 6 claim its “unique to Texas”, but the legislation is fundamentally identical to the bathroom and municipal non-discrimination provisions in North Carolina’s HB 2. That law has resulted in companies like PayPal, Deutsche Bank and CoStar pulling jobs and planned investments from the state. Performers and sporting events also have fled North Carolina in the wake of HB 2 – with the NBA, NCAA, and ACC all pulling major championship events that were poised to deliver hundreds of millions of dollars to local economies.

The so-called Texas Privacy Act won’t make restrooms any safer for men, women and children, and it will do far more harm to them than good. This legislation will needlessly jeopardize jobs, investment, innovation and tax revenue for our state, and it sullies our reputation as an open, inclusive and welcoming state. It is also wholly unenforceable and unsupported by any public safety evidence, and will create situations that invade the privacy of Texans from all walks of life.”

Wallace said that Keep Texas Open for Business and Texas Association of Business would welcome the opportunity to discuss meaningful ways the business community could work with state leaders to address serious, well-documented personal and public safety concerns like online predators, online privacy, and campus safety, while ensuring Texas does not enact discriminatory legislation that will spark statewide boycotts.

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