The Richardson City Council is holding a two day budget workshop
to set the 2025-2026 budget. The City summarizes the global economic
environment as: "Conflicts, trade restrictions, and geopolitical
rivalries are disrupting global supply chains. Political instability
and shifting international policies contribute to an unpredictable
policy environment, making businesses more hesitant to invest in
expansion, new hiring, or infrastructure upgrades. Wars, sanctions,
and diplomatic tensions may cause energy price spikes and commodity
shortages, possibly leading to inflationary pressures."
The City had three more slides calling out risks and threats to
Richardson's economic situation. "Tariffs and Tariff Driven
Inflation." "Labor Market Challenges." "Slowing Revenue Amid Rising
Costs."
I am pleased that City government, if not the State or Federal
governments, knows the answer to the question, how is MAGA working out
for us?
And that's before the City gets to what our Texas legislature is
up to. "SB 924 reduces FY2026 franchise fees by ~($260,000)." "HB9
will reduce FY2027 property tax revenues by ~($1,500,000)." "SB9 would
reduce FY2027 property tax revenue by ~($1,500,000)." We can be sure
the impact of that will be cuts to city services. How much of those
cuts will show up as more money in in your wallets is much less
certain.