Crashing the Party

What to Know: Monday’s steep drops in oil futures sent prices into negative territory for the first time ever.

The TPPF Take: Now is not the time for state and local governments to try to recoup revenue on the backs of taxpayers. Instead, they should cut spending, like the rest of us will do.

“With the economic downturn caused by the COVID-19 crisis, and especially the steep decline in oil and gas production, Texas will be in for a tough budget cycle in 2021,” says TPPF’s Jason Isaac. “However, if the Legislature chooses to lay politics and personal agendas aside, we can easily find areas to trim spending and make ends meet — without cutting essential services.”

It’s Not All-or-Nothing

What to Know: Many Americans say they’re ready for the economy to reopen.

The TPPF Take: Our approach to lifting stay-at-home orders shouldn’t be all-or-nothing. We can restart the economy safely.

“Let’s enact sensible policies — made at the state and local levels — based on safety and the very best data available,” says TPPF’s Kevin Roberts. “Instead of shutting everything down, and making exceptions for essential goods and services, we should be ready to open up the economy, making exceptions to protect those who are truly at risk. Let’s think in terms of safe and unsafe, instead of essential and non-essential.”

The Taxman Cometh?

What to Know: Some big government groups are urging cities and counties to ignore last session’s signature property tax reform bill because the governor declared a disaster declaration. But the Chairman of the Senate Committee on Property Tax argues that those groups are misinterpreting the legislation, saying that the provision “was designed to allow an area, at their request, to recover from a set of physical damages.”

The TPPF Take: “Now is not the time for local governments to grab more tax money from struggling families and businesses,” says TPPF’s James Quintero. “Groups advising governments to raise their property tax revenues by as much as 8 percent next year are doing a disservice to local officials and taxpayers alike. It’s bad advice.”