City leaders are asking for more spending flexibility to address the financial shortfalls caused by the pandemic.
COVID-19 Recession in Texas
The coronavirus pandemic has steered the Texas economy into a recession as the state’s unemployment rate remains high and many businesses struggle to survive. Several sources of government and nonprofit aid have either expired or dried up. Economists say the ongoing public health crisis will slow the recovery for individual Texans, business owners and entire industries. For the latest news on this topic, sign up for our weekly economy newsletter and follow energy and economy reporter Mitchell Ferman on Twitter.
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Coronavirus in Texas
Texas faces a looming $4.6 billion deficit, comptroller projects
The coronavirus pandemic and low oil prices are driving down projected general revenue in the state’s current budget by more than $11 billion.
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COVID-19 Recession in Texas
Texas’ June unemployment rate falls to 8.6%, but experts warn unemployment could worsen next month
Texas’ June unemployment rate fell to 8.6% — but experts say the improvement may be short-lived with recent surges in coronavirus hospitalizations and deaths.
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Coronavirus in Texas
Distilleries, wineries shuttered by Gov. Greg Abbott’s bar shutdown say they should be exempted
Distillery, winery and some restaurant owners say their businesses are different from traditional bars, which Abbott closed after COVID-19 cases and hospitalizations began to climb in June.
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Coronavirus in Texas
Texas has the highest uninsured rate in the U.S. And during the pandemic, an estimated 659,000 Texans lost their health care.
The pandemic-driven economic downturn has left more than 5.4 million Americans with no job and no insurance. Texas has one of the largest shares of this increase.
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COVID-19 Recession in Texas
Texas reverses course, says it won’t collect overpaid unemployment benefits in instances when it was the state’s mistake
A Texas Workforce Commission spokesperson said he was previously unaware that a judicial order bars the state from recovering funds when the overpayment is the agency’s fault.
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Coronavirus in Texas
Number of Texans filing unemployment claims increased for second week in a row as 117,244 sought benefits
The claims — an increase of 21.4% compared with the week before — come as coronavirus infections in the state continue surging and after Gov. Greg Abbott ordered bars to close and limited restaurant operations.
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Coronavirus in Texas
More than $54 million in PPP loans went to small private Texas colleges and universities
Schools said they used the money to make payroll.
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Coronavirus in Texas
Texas wants $32 million in unemployment benefits back after finding 46,000 people were overpaid
The Texas Workforce Commission said that incorrect filings and fraud can lead to overpayments, but the money must be paid back even if it was the state’s mistake.
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Coronavirus in Texas
Nearly 6,300 Texas companies received PPP loans of more than $1 million
The federal government released the names Monday of 51,250 companies and organizations in Texas that received the loans, which were designed to keep the economy afloat during the coronavirus.