Texas is barely stable now and is key to econ

Texas is barely stable now and is key to econ

The news prompted an outpouring of praise from Texas politicians, notably Gov. Rick Perry, who issued a statement that painted Texas as an ideal place to live and work.? “Claiming the spot as America’s Top State for Business 2012 reinforces the fact that the Lone Star State is the nation’s leader in fostering an economic climate that creates jobs, promotes innovation and opens the door to unlimited opportunity,” Perry said. “Our conservative fiscal policies, including low taxes, fair courts and predictable regulations, keep our state the top destination to live, work, grow a business and raise a family.”? Perry was joined by a range of Texas politicians who posted messages on their Facebook pages lauding the state’s ranking.? “Great news for the Lone Star State! TEXAS ranked as the #1 state for doing business, again!” Rep. Francisco “Quico” Canseco, a San Antonio Republican, posted.? “Great news and further proof that policies in the Lone Star State are working!” Rep. Joe Barton of Ennis wrote.? And Rep. Sam Johnson, a Plano Republican, even snuck in a political dig in his response.? “Good read – Texas ranked #1 for business in 2012. That’s what happens when you don’t punish people or businesses with heavy tax burdens,” Johnson posted.? Each year, CNBC scores the 50 states “on the criteria they use to sell themselves.” This year’s rankings were more comprehensive than years past, “using 51 metrics developed with the help of the National Association of Manufacturers and the Council on Competitiveness, as well as input from the states themselves,” CNBC reported.? Some of the categories used to rank the states included economy, education, quality of life and cost of living. Texas ranked highest in infrastructure, was second in technology and innovation and third in cost of living.? “Texas endured a wrenching budget crisis last year. While the state is still not out of the fiscal woods, it managed to emerge with its sterling, triple-A bond rating and stable outlook intact,” CNBC said.

Jobs Internal Link

Texas economy is key to jobs

The Texas economy continued its upward climb in February, gaining 27,900 jobs while the unemployment rate dropped slightly, from 7.3 percent to 7.1 percent.? “Texas’ job growth over the past year points to a steady and sustained expansion of our state’s economy,” Tom Pauken, chairman of the Texas Workforce Commission, said in a prepared statement. He also highlighted Texas' positive job growth over the last 22 months. ? Check out this Tribune interactive to see which Texas industries rebounded from the Great Recession in 2011.? The nation as a whole is in the midst of recession-recovery, but Texas’ unemployment rate has consistently remained lower than the national unemployment rate, currently at 8.3 percent. ? The biggest surprise from February's employment stats is the change in government jobs, which grew by 12,800 between January and February. After a year of budget cuts and consistent reductions, the total number of government jobs remains 57,900 fewer than in February last year.? Construction had the greatest percentage growth over the month, at 0.8 percent. Mining and logging, which includes the booming oil and gas industry, had the greatest growth over the last year, at 16.4 percent. ? Professional and business services, which gained jobs last month, lost 3,000 jobs in February. The industry still had 57,700 more jobs than at this point last year.

***Texas Rainy Day DA

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Rainy Day funds won’t be used now

Texas Tribune 12 (Texas Tribune, Budget Battles Still Ahead for Texas Legislature January 30, 2012) http://www.texastribune.org/texas-taxes/budget/budget-battles-still-ahead-legislature/

Revenue is expected to grow for the foreseeable future, but slowly, said Eva DeLuna Castro of the Center for Public Policy Priorities, a liberal think tank. She said the situation probably won’t be better, but it might not be worse either.? “We might actually just see a rerun,” she said.? That could mean a repeat of the $15 billion cut from the current state budget — a budget that will need an emergency appropriation in 2013 just to cover the state’s Medicaid bill. One bright spot is that the state could have more than $8 billion in its Rainy Day Fund. DeLuna Castro said that for that to help, lawmakers must be willing to spend it.? “Just as in the 2011 session, we did have a sizable Rainy Day Fund, but legislators weren’t willing to use it all,” she said. “So, if that dialogue doesn’t change, if they’re saying the Rainy Day Fund is once again mostly off limits, that narrows down a lot of options that legislators have.”? Many conservatives pushed for saving the Rainy Day Fund in 2011. Gov. Rick Perry helped lead the charge, as did the Texas Public Policy Foundation, a conservative think tank.? “We’re still advocating not using any of the money for ongoing expenditures for the next biennium,” said Talmadge Heflin, who directs the policy foundation's Center for Fiscal Policy.? Heflin said lawmakers could use Rainy Day funds for that looming Medicaid bill, which could reach $5 billion. Beyond that, as always, Heflin is pushing for more cuts and no new taxes in the next state budget. He acknowledged that making cuts for two straight sessions wouldn't be easy.? “Every dollar has a constituent, and those constituents start communication with the legislators when there’s talk about cutting them back,” Heflin said. “So yeah, the more you come press it, the more difficult it is.”

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