The latest economy news from The Texas Tribune.
Texas lawmakers have vowed to cut their way to a balanced budget, in the face of a shortfall that could be as high as $25 billion. But their task pales compared to the federal government, which ran a deficit of almost $ 1.3 trillion last fiscal year. As KUT’s Matt Largey reports, a lot's at stake for Austin when the next Congress gets down to business on the next federal budget. Full Story
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Got a hole in your budget? Cut spending. Shake the couch for spare change. Raid your savings. Ask for a raise, if you think you can get away with it. And when all else fails, sell your assets, right? Not in Texas. The folks who handle the state’s real estate are focused not on the current budget mess, but on ambitious building plans they say will make long-term financial sense for taxpayers. Full Story
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As he sat in traffic last Saturday on the final stretch of I-35 in Laredo in a truck loaded with U.S. goods, Higinio Navarrette was a microcosm of the holiday season on the border: an area where the local economy is as affected by security and cartel-related violence as it is by the nationwide economic slowdown. Full Story
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So much for the economic impact of headline-making violence. Despite being on track to exceed 3,000 homicides this year, Juárez has seen its manufacturing sector flourish, regaining since July 2009 a quarter of the jobs lost during the height of the recession. More than $42 billion in trade value moved through the ports that the city shares with El Paso last year, and that number should be higher in 2010. And the amount of of tractor-trailer traffic hauling goods through the region was 22 percent greater in the first six months of this year than it was in the same period last year. Full Story
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The budget shortfall — estimated to be as much as $28 billion — will require the Legislature to take a paring knife and possibly a machete to government agencies and programs. The largest single consumer of state dollars is public education, so it’s hard to imagine a scenario in which funding for teacher salaries, curricular materials and the like isn’t on the chopping block, especially if lawmakers want to make good on their promises of no new taxes. But where is that money going to come from? Full Story
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As expected, state leaders are asking state agencies to cut their current budgets even more. This time, by 2.5 percent. Full Story
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Republican leaders in the Texas Legislature are insisting that it will be a no-new-taxes session. In response, one Democratic lawmaker is pushing to expand the definition of the word "taxes" to include fees. Ben Philpott of KUT News and the Tribune reports. Full Story
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Republican leaders in the Texas Legislature are insisting that it will be a no-new-taxes session. In response, one Democratic lawmaker is pushing to expand the definition of the word "taxes" to include fees. Ben Philpott of KUT News and the Tribune reports. Full Story
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New jobless numbers show that the nation as a whole added fewer jobs than expected last month. Here in Texas, things appear better, but there are still plenty of people out of work — and as Matt Largey of KUT News reports, the job market can be an especially daunting place for those who are out of work the longest. Full Story
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For this week's installment of our nonscientific survey of political and policy insiders on issues of the moment, we asked whether the Texas Railroad Commission should live or die and whether the commissioners ought to be appointed or elected. And we asked for suggestions on what government is doing now that it ought to stop doing. Full Story
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"Efficiency" is the buzzword heading into the 2011 legislative session. Lawmakers say they want to make sure the dollars spent on K-12 education are being spent as efficiently as possible — and that anything deemed inefficient could end up the chopping block. Ben Philpott of KUT News and the Tribune reports. Full Story
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"Efficiency" is the buzzword heading into the 2011 legislative session. Lawmakers say they want to make sure the dollars spent on K-12 education are being spent as efficiently as possible — and that anything deemed inefficient could end up the chopping block. Ben Philpott of KUT News and the Tribune reports. Full Story
Gov. Rick Perry’s office has asked a member of the Emerging Technology Fund’s advisory committee to consider resigning over a recent investigation into a stock deal — the latest dustup involving state incentive funds. Ben Philpott of KUT News and the Tribune reports. Full Story
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Governor Rick Perry’s office has asked a member of the Emerging Technology Fund’s advisory committee to consider resigning over a recent investigation by the Texas Rangers. This is just the latest dust up over this fund and the Texas Enterprise Fund. Ben Philpott of KUT and The Texas Tribune reports on what could happen to the funds in the next Legislative session. Full Story
Ask House Appropriations Committee Chairman Jim Pitts, R-Waxahachie, and he'll tell you: The budget he and his fellow finance types will put forward in a few weeks confirms fears that carnage is looming. "We're making huge cuts," he told a Tea Party group last week. Full Story
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In this Thanksgiving week TribCast, Evan, Ross, Elise and Ben discuss speaker politics, the 2012 Senate race and the latest Texas job numbers. Full Story
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State budget writers will propose eliminating agencies, cutting others to a quarter of their current size and mandating furloughs for state employees to balance the budget without raising taxes or using the state's Rainy Day Fund, Appropriations Chairman Jim Pitts told a hometown crowd. Full Story
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For this week's installment of our non-scientific survey of political and policy insiders on issues of the moment, we focused on the budget. Specifically, we asked how big the shortfall is going to be, how the Legislature will close the gap and which areas of the budget are most likely to be cut. Full Story
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Texas added almost 48,000 jobs from September to October this year according to the Texas Workforce Commission. Ben Philpott reports for KUT News and the Texas Tribune on the numbers below the job gains. Full Story
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Texas' unemployment rate stabilized in October at 8.1 percent as the state added almost 48,000 jobs. That rate, the lowest we've seen in 2010, is 1.5 points below the national average. Ben Philpott of KUT News and the Tribune reports on the numbers behind the gains. Full Story