Trainwreck Ahead
What to know: The city of Austin’s shady rail scheme could be derailed eventually given ongoing litigation and the faults found by the Texas Attorney General’s office. The state’s top law enforcement officer recently determined that the city cannot “funnel for unlimited duration a portion of its maintenance tax for a billion-dollar capital improvement project to pay debt service.”
The TPPF take: Austin’s crafty rail scheme always relied on shell games and funny business. But the jig may be up.
“Even the city of Austin must obey state law. And the law does not allow cities to commit indefinitely maintenance and operations tax money for debt service-related reasons,” says TPPF’s James Quintero. “Whether through litigation, legislation, or both, Austin’s fixed rail racket appears to be in big trouble—and rightfully so.”
For more on Austin government, click here.
More Houses
What to know: The Dallas Morning News has a new editorial recommending ways that Dallas officials can get out of the way of new construction—and allow for smaller lot sizes, therefore more houses.
The TPPF take: In some Texas cities, the supply of homes has been generally constrained through bureaucratic processes and strict land-use regulations pushed by local progressive politicians.
“Texans who have struggled through inflation, recession, and high taxes may soon have a wider array of options to choose from when it comes to buying a home,” says TPPF’s John Bonura. “That’s something we should all celebrate.”
For more on housing affordability, click here.
Misspent Money
What to know: Next year, the U.S. federal government will spend “$6.8 trillion, or 36 percent more than it raises in revenues, with the difference made up by vast borrowing,” according to the Cato Institute.
The TPPF take: Congress isn’t just spending too much money, it’s spending on the wrong things.
“As China rapidly arms, Russia labors to pound Ukraine into submission, and Iran plots to wipe Israel off the face of the map, can you imagine China, Russia, Iran — or even India for that matter — spending what will amount to trillions of dollars to remove any fraction of the carbon dioxide they’re pumping into the air?” asks TPPF’s Chuck DeVore. “No? Then why are we misallocating capital? Why are we wasting money on things that will make no measurable difference?”
For more on federal spending, click here.