❌ HB332
Create the small defense business linked deposit program
Summary
The bill establishes a small defense business linked deposit program, allowing the treasurer of state to invest in linked deposits for eligible defense-oriented businesses in Ohio. Eligible borrowers must be headquartered in Ohio for at least five years, maintain significant operations in the state, have contracts with the armed forces, and have gross receipts under $25 million. The program aims to provide reduced-rate loans to support job creation and business growth in the defense sector.
Rationale
The bill involves government intervention in the economy by providing financial assistance to specific industries, which conflicts with Libertarian principles of free markets and minimal government involvement. The alignment score reflects the significant government control and favoritism towards the defense industry, which is contrary to the Libertarian Party's advocacy for individual rights and free market principles.
Risks and Concerns
- Increased government control over the economy
- Potential for cronyism and favoritism towards specific industries
- Misallocation of resources away from more efficient market solutions