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Texas Poised For Bailout Funds

Posted By admin || 19-Jan-2009

According to an article in the Dallas Morning News, House Democrats unveiled an $825 billion stimulus package Thursday that would be used for transportation and infrastructure projects, energy-grid upgrades and Medicaid payments. The plan also includes tax breaks for individuals and businesses. Texas is poised to receive around $3.6 billion, including $2.4 billion for highway projects.

The article also said:

Texas ' share of transit funding would be about $423 million, and it would get $541 million water and flood-control projects, according to preliminary figures provided by Democratic aides.

Texas Gov. Rick Perry was one of the few governors to question the stimulus plan. But Texas' budget outlook has grown murkier since then, so the state could use some of the funds designed to help states pay for Medicaid, public safety and other programs.

The taxpayer funding comes just in time as Texas' tax base shrivels by $9 billion and the money for public services becomes scarce. This infusion of money is good news for those individuals experiencing job losses because the new "public works" projects will create more jobs for the unemployed in Texas. My only concern is that this money is actually used effectively to provide the jobs that it says it will. Texans are experiencing foreclosures, job losses and bankruptcy, we can't afford to waste any more bailout money.

Categories: Economy
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