TLR Weekly News Roundup: June 25, 2025

June 25, 2025

Texas Is Becoming the Center of Gravity for American Capitalism (Real Clear Markets)

What happened: Texas passed a landmark set of reforms during the 2025 Texas Legislative Session that will boost business confidence and help bring down costs.

Texas Is Becoming the Center of Gravity for American Capitalism (Real Clear Markets)

What happened: Texas passed a landmark set of reforms during the 2025 Texas Legislative Session that will boost business confidence and help bring down costs. Critically, these bipartisan reforms will promote strong corporate leadership, combat shareholder proxy abuses and prohibit taxation on securities transactions. Read more

Remind me: For more than two decades, America has seen a sharp decline in publicly traded companies thanks to rising costs, regulatory overreach and a lack of transparency. Texas is helping to restore a truly pro-business system.

In his words: “There’s a reason that Abbott calls Texas an ‘economic juggernaut.’ Companies across the world are realizing all that our great state has to offer.” – James Lee, founder and CEO of TXSE Group Inc.

TLR Thoughts: The pro-business reforms passed in Texas this session are a major victory for the state. Texas didn’t gain its reputation as a powerhouse for job creation, innovation and growth by accident—it’s the result of decades of principled leadership and smart policy choices, in part embracing tort reform more than 30 years ago.

Governor Abbott Signs Over 300 Critical Bills Passed During 89th Regular Legislative Session (Office of the Texas Governor)

What happened: On June 20, Gov. Abbott signed into law more than 300 bills passed during the 89th Regular Legislative Session, advancing policies that reinforce Texas’s reputation as a national leader in economic opportunity and limited government. Read more

Worth noting: Among the newly signed laws are two reforms championed by TLR through the Coalition for Regulatory Efficiency and Reform:

HB 11: Reduces barriers for skilled professionals moving to Texas by directing state licensing agencies to pursue reciprocity agreements—cutting red tape and helping new residents get to work faster.
HB 12: Strengthens Texas’s Sunset review process to identify and address problematic regulations earlier and more often. It incorporates efficiency audits into the process and ensures regulations are tied to key agency deliverables.

TLR Thoughts: Modernizing Texas’s regulatory system is vital to supporting continued economic growth in the state. With the passage and enactment of HB 11 and HB 12, Texas is leading the way as the blueprint for America’s future.

As Los Angeles Faces Budget Crisis, Legal Payouts Skyrocket (Los Angeles Times)

What happened: Legal payouts by the City of Los Angeles have skyrocketed, hitting $289 million in 2024—contributing to a major budget shortfall and prompting calls for reform. By contrast, two years earlier, Los Angeles paid just $91.3 million in legal settlements and jury verdicts. Read more

Tell me more: A sharp rise in high-dollar “nuclear verdicts,” aging infrastructure and a growing number of lawsuits are fueling the crisis. Legal costs are now so severe that city services are being cut to cover the mounting liability.

TLR Thoughts: The Los Angeles budget crisis offers a harrowing warning to Texas lawmakers. When unchecked litigation, aging infrastructure and a lack of sensible tort reform collide, the consequences can be dire. The dramatic rise in lawsuit abuse and “nuclear verdicts” is draining Los Angeles taxpayer dollars, forcing budget cuts and diverting resources away from public services. TLR will continue to advocate for policies that preserve balance, promote fairness and keep Texas from following California’s costly path.

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TLR's mission is to foster freedom, innovation and job creation by advocating for a fair, efficient and predictable civil justice system staffed by competent and independent judges who apply the constitution and laws as written.