Texas’ largest cities are drowning in debt. The latest data from the Bond Review Board reveals that Texas’ five most populated cities owe a combined $57.7 billion. Here is how they compare individually. Big City Debt Austin: $10.5 billion Dallas: $7 billion Fort Worth: $2.7 billion Houston: $20.2 billion San Antonio: $17.3 billion There are...
Despite the current economic crisis, Dallas ISD is poised to ask for voters to approve a $3.7 billion bond. While the timing is rather alarming, there are more concerns than meets the eye. While DISD is considering building at least 10 new schools and 14 replacement schools, its enrollment numbers have seen a steady, long-term...
Even though there’s a pandemic happening, Dallas ISD is asking voters to support to a jaw-dropping $3.7 billion bond to fund campus improvements, new schools, and security and technology purchases. This request comes just five years after voters approved a $1.6 billion bond in 2015 for similar projects. The sheer magnitude of the district’s proposed...
Despite ongoing economic carnage (the fallout from the coronavirus pandemic), Dallas ISD appears poised to ask voters to support a mammoth $3.7 billion bond package—“the largest bond request by any type of taxing entity in Texas history.” The district hopes to use these borrowed billions to build “[n]ew and more efficient security technology, 14 new...
No one likes to diet. It’s hard and takes an awful lot of willpower. But sometimes life doesn’t give you a choice. Recent unemployment data from the Texas Workforce Commission has set off alarm bells and revealed some brutal new realities. For April, the state’s unemployment rate jumped to almost 13 percent as “the Texas...
With government asking citizens to show remarkable restraint by preventing them from earning a living and supporting their families, it is not too much to ask for the same restraint in our legal system. However, a Dallas judge took the extreme step of jailing Shelley Luther, who refused to close her hair salon, thereby exposing...
Answer: Almost $600,000! According to the Texas Education Agency’s Superintendent Salary Reports, Point Isabel ISD’s superintendent took home $589,400 for the 2019-20 school year. That amount excludes pricey perks too, which oftentimes include things like performance and retention bonuses; housing, car, and cell phone allowances; health insurance; a defined benefit pension plan; retirement contributions; membership...
For years, city halls around the state spent like drunken sailors, acting as if Texas’ economic expansion was without end. And then the crisis came. Now cities are weathering a deluge of bad budget news, with some expecting the worst. Houston Mayor Sylvester Turner said recently, “We work on the budget year round, and we anticipate even...
Both of these things can be (and are) true: Paid sick leave is a wonderful employee benefit, particularly during a pandemic, when we’re all worried about our family’s health. And government has no business mandating paid sick leave policies. A new Austin American-Statesman editorial calls on the state of Texas and Gov. Greg Abbott to...
Sky-high property taxes are perpetuating an affordability crisis, as Texas Gov. Greg Abbott pointed out. Abbott told the Rotary Club of San Antonio, “One thing that is driving up the cost of housing and the cost of living is skyrocketing property taxes—skyrocketing property taxes that are beginning to force people out of homes they’ve lived...
Local governments are addicted to debt. Over the past decade, cities, counties, school districts, and special districts have been on a borrowing binge—and last year was no exception. New data shows that local government debt grew to more than $365 billion in fiscal year 2019, an increase of almost $11 billion over the previous year....
Answer: $86,109,622,354. That’s right, pension debt owed by Texas’ state and local retirement systems grew to more than $86.1 billion in February 2020, according the Pension Review Board’s latest actuarial valuation report. That’s a marked increase from the previous report (in October 2019) when unfunded liabilities totaled $3.4 billion less, at $82.7 billion owed. Source:...