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Bleak Outlook

What To Know: Blackrock CEO Larry Fink’s annual letter to CEOs shows that the energy giant is doubling down on ESG—environmental, social and governance—investing.

The TPPF Take: BlackRock is ignoring the harms of ESG, which means selecting clients’ investments based on political rather than financial criteria.

“Fink’s letter is an unserious take on the world’s greatest challenges—in fact, it ignores them entirely—and shows BlackRock’s continued journey down the path of financial activism that will jeopardize the future of more than just the company’s clients,” says TPPF’s Jason Isaac.

It’s Not a Revenue Problem

What To Know: Texas Comptroller Glenn Hegar reports that a strong Christmas retail season resulted in double-digit increases in sales tax revenues over January 2021.

The TPPF Take: Texas doesn’t have a revenue problem.

“Surplus taxpayer money should be returned to taxpayers by governments lowering tax rates, especially for property taxes,” says TPPF’s Vance Ginn. “This should be done at the state and local levels. We have a plan for how to do this.”

All is Well!

What To Know: The New York Times’ Paul Krugman (like much of the legacy media) continues to try to cover for the Biden administration’s inflation problems.

The TPPF Take: Inflation is real, it’s hurting U.S. families—and it has momentum.

“It appears inflation is already well entrenched in the American economy,” says TPPF’s E.J. Antoni. “Like a malignant cancer, it can no longer be easily and quickly rooted out. Given the lags involved in monetary policy, the time to put the brakes on inflation was a year ago.”