NEWS
Pandemic drive record unemployment
(AUSTIN) — Businesses across Texas and the nation have been forced to curtail or cease operations in the face of the coronavirus pandemic, throwing millions out of work and prompting a record increase in unemployment claims that is straining the safety net for workers. Nearly 2 million people in Texas filed for unemployment insurance benefits from March 14 through May 9, triple the number of claims filed in all of 2019.
In this issue of Fiscal Notes, we take an early look at the economic pressures now gripping the state. We also examine early impacts on employment and several other measures that can shed some light on current conditions.
“It’s far too early to say how long these conditions will last — and how deep the trough will go,” Texas Comptroller Glenn Hegar said. “Many economic measures are only beginning to reflect the crisis. It will be months before we can chart its full dimensions. Fortunately, our state’s fiscal position is strong enough to support vital programs for the remainder of this year, and our state’s “Rainy Day Fund” remains healthy. But the legislative session that begins in January 2021 will face significant and perhaps unprecedented challenges.”
Getting Texans back to work will no doubt be one of the bigger challenges. A record 315,167 Texans filed initial jobless claims during the week ending April 4; a comparable week in 2019 saw about 13,000 claims. The spiraling unemployment rate has forced the Texas Workforce Commission to ramp up its web-based and telephone systems, boost staffing and extend operating hours to ensure claimants get the benefits due them.
The May issue of Fiscal Notes also considers the history of previous recessions and their effect on tax revenues. The current situation is unprecedented in the speed with which it took effect, but the past does provide some important clues for our future.
For questions about how our tax functions are continuing during the outbreak, visit our COVID-19 News page or our Virtual Field Office. Fiscal Notes is available online and can be received by subscribing via the Comptroller’s website.
Fiscal Notes furthers the Comptroller’s constitutional responsibility to monitor the state’s economy and estimate state government revenues. It has been published since 1975, featuring in-depth analysis concerning state finances and original research by subject-matter experts in the Comptroller’s office.
Members of the Amon Carter Lake Water Supply Corporation will meet at 6 p.m. on May 26 in the office at 607A Lindsey for a monthly meeting.
Items on the agenda include a consent agenda and minutes and financials. Possible discussion/action may be considered on the following topics: Treasurer’s report, review of finance and current loans; president’s report as to the written agreements with contractual employees; consider current water rates and a possible increase; and review of expenses and areas that need amendment.
An executive session may be entered to discuss personnel issues.
The City of Saint Jo has a new fire marshal as the city council made the appointment during its May 13 meeting.
Gary Hines, a retired professional firefighter and certified fire investigator, will take the position. City Secretary Debbie Dennis said the post is required by ordinance but has not been filled for a long period.
The council set dates for a budget workshop for 2 p.m. on June 14 and 2 p.m. on June 28 for the ordinance workshop, as the council works to update its rules.
Aldermen gave their support to a proposition by Councilman Jack Dunn who is asking the Legislature to allow Texas’ smallest cities, those with 2,500 or few in population, to receive an additional share of sales and use tax. He would like to see the funds used in these communities to repair and replace aging infrastructure without new taxes or reliance on state grants.
In letter to State Rep. David Spiller, whom Dunn will meet with on June 1, the alderman explains much of the state’s 6.25% share generated locally flows into general funds and is spent on other priorities. He would like Spiller to author this legislation. Dunn gave the letter to the council along with a powerpoint on the plan.
“A single water treatment plant upgrade or sewer rehab carries massive, fixed costs that do not shrink with population size. These communities, often with only a few hundred or a couple thousands residents, simply cannot spread those costs across enough ratepayers or a broad tax based,” the letter states.
Dunn suggests a “graduated sales tax retention policy:” 1% additional share for cities with 2,500 or fewer residents; .75% for those 2,500 and 5,000; and .50% for cities between 5,001 and 10,000. It would be dedicated to infrastructure. Dunn says the overall statewide fiscal impact would be negligible, but could help sustain small, rural cities.
The Nocona City Council approved a bid for a new 203,000 gallon capacity tank for potable water at the water plant and learned a slide repair to the lake dam is going to be pretty costly.
At its May 12 session the council received three bids on the tank and went with one from Tank Depot of Cleburne for $193,923. It is for a a 217,600 gallon tank usable for 203,000 gallons. The price could change slightly since it was based on estimate freight costs.
Read the full story in the Thursday Bowie News.
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