Certifying the state's intention to request and use all funds that may be available to the state under the American Recovery and Reinvestment Act of 2009.
The passage of HCR93 is anticipated to have a significant positive impact on state laws, particularly concerning unemployment compensation. Acceptance of the federal funds would lead to an estimated net gain of approximately $474 million for the Unemployment Compensation Trust Fund, allowing for a lower unemployment tax rate for employers. This action is seen as essential to prevent worsening financial strains on Texas businesses and families amid a substantial economic slowdown. Notably, the inability to access these funds could result in a much higher tax burden on employers, which could hinder job recovery and economic stabilization efforts.
HCR93, a concurrent resolution by Representative Turner, certifies the State of Texas' intention to seek and utilize all funds available under the American Recovery and Reinvestment Act of 2009. This act was aimed at revitalizing the American economy during a significant economic downturn and is expected to create or save millions of jobs while providing critical funds for infrastructure projects, education, and healthcare accessibility. The resolution emphasizes the urgency of obtaining these funds to mitigate the recession's impacts on Texas, where job losses and economic challenges have become increasingly severe.
Notably, HCR93 arises against the backdrop of contention regarding the actions of Governor Rick Perry, who indicated he would not certify $556 million the state could receive from the federal government. The resolution thereby positions the Texas Legislature against the governor's inaction, illustrating a divide in strategic responses to the recession. While proponents assert that utilizing these funds is a necessary step for economic recovery and government accountability, opponents might argue against reliance on federal funds, advocating instead for state-level solutions. Thus, the resolution serves not only a fiscal purpose but is also indicative of deeper political and ideological divides within Texas governance.