Initially proposed by Senators Bennet (D-CO) and Young (R-IN) in May 2020, the RESTART Act seeks to provide increased flexibility to the Paycheck Protection Program (PPP) recipients. It also provides a longer-term loan funding program (i.e., the RESTART program) than the original PPP to cover up to 6 months of payroll, benefits, and fixed operating expenses for the businesses hardest hit by the economic fallout due to COVID-19 and associated lockdowns by state and local governments. The goal of the RESTART Act is for businesses to use the 6 months of additional funding to restart or accelerate their operations. In addition, the Texas Public Policy Foundation examined the proposed REHIRE Act in the summer of 2020. Its hallmark provision was the inclusion of a grant for firms rehiring employees equal to 120% of the rehiring costs. If implemented, the RESTART Act, with an amendment that would include the REHIRE grants, represents an assistance package that is timely and targeted at those businesses most in need and at creating jobs, and temporary in that it has a 6-month cost cap on its loan program. Both the RESTART and REHIRE acts are rooted in private property rights in that the goal of each is to provide compensation for the cash inflow that government indirectly took from businesses during the economic lockdowns.
Examining Local Government Spending Trends From 2014 to 2023
City and county spending has outpaced growth in population and inflation, leading to an increase in the tax burden on Texan taxpayers. Key points: Local government spending continues to outstrip increases in both population and inflation. From 2014 to 2023, local government spending rose by 61.2%, whereas population and inflation increased by only 42.7%. Elevated...