72.1 F
Fort Worth
Thursday, November 26, 2020
Business Texas officials examine economic impact of Biden win

Texas officials examine economic impact of Biden win

Other News

JRB Fort Worth chosen for main operating base for C-130J aircraft

Naval Air Station Joint Reserve Base Fort Worth has been selected as a main operating base for eight C-130J aircraft at the 136th Airlift...

Commentary: When to donate rewards to charity and when to give cash

By ERIN HURD of NerdWalletIf you're looking to give to charity this holiday season but don't want to dip into your bank account, donating...

Texas again sets record for new coronavirus infections as testing also sees sustained highs

Texas health officials reported more than 14,000 new coronavirus infections Wednesday in what appeared to be an all-time high for daily cases. The record comes...

Commentary: Area mayors say ‘Spread cheer this holiday season, not COVID-19’

Mayors of several cities in Tarrant County released the following message: As we enter the holiday season, it’s becoming all too apparent that this year...

As Biden wins the presidency, Texas officials are examining the possible economic impact

Democrat Joe Biden defeated President Donald Trump to become the 46th president of the United States on Saturday, positioning himself to lead a nation gripped by a historic pandemic and a confluence of economic and social turmoil.

Trump refused to concede, threatening further legal action on ballot counting, but so far his actions have had little impact.

For Texas leaders, the victory comes as the state is dealing with a renewed threat from the COVID-19 pandemic and the resulting economic impact.

“From an economic perspective, it is rare that presidents move the needle much on economic growth.,” said M. Ray Perryman, Ph.D., president and chief executive officer of The Perryman Group. “Historically, the economy has fared moderately better in Democratic administrations, but the difference is small and not necessarily caused by the president. In terms of policy, the ability to implement major initiatives will be highly dependent on the outcome of the two senate races in Georgia.”

Perryman said it is “critically important to deal with the virus.”

“Our economic crisis is the direct result of the health crisis, and we cannot fully revive the lost jobs and output until we have an effective strategy with regard to the pandemic. It appears that President-Elect Biden will focus more directly on a better response,” he said.

Perryman said the second issue to note relates to uncertainty.  .

“Nothing inhibits investment and risk-taking in the economy more than unpredictability. I anticipate that there will be greater clarity and consistency going forward, which could also be a positive factor,” he said.

Perryman said the election seemed to separate the issues of the virus and economy. That’s now the way to look at it, he said. .

“I would sum up, however, by again saying that the dichotomy that was created in the election between the virus and the economy was incorrect. The economy can only be restored through a concerted health response,” he said. .

The Every Texan organization, formerly the Center for Public Policy Priorities in Austin, said the organization will worth with the new administration.

“As we have done for over 35 years, Every Texan will work with the new and returning elected officials in Washington and Texas who want to begin the healing with systemic, data-driven, and equitable public policy. We envision a Texas where people of all backgrounds can contribute to and share in the prosperity of our state,” said Every Texan Legislative & Policy Director Luis Figueroa.

Figueroa also emphasized the impact of the pandemic on the economy of the state and the nation.

“This past year has seen America stricken with an unprecedented pandemic, in which most federal and state leaders in the political majority have failed to lead,” he said. “With a change in the White House, we expect leaders at all levels will rely more on science and data to rebuild our economy and the health of our communities in an equitable way.”

close

Oh hi there 👋
It’s nice to meet you.

Sign up to receive awesome content in your inbox.

We don’t spam! Read our privacy policy for more info.

Latest News

Several local Walmart Supercenters remodeled in time for holidays

Fort Worth and Arlington residents will soon get a first look at the newly remodeled Walmart Supercenters at 9500 Clifford Street, 8401 Anderson St....

Retail trade group sees solid holiday sales despite pandemic

By ANNE D'INNOCENZIO AP Retail Writer NEW YORK (AP) — The National Retail Federation, the nation's largest retail trade group, expects that holiday sales could...

Grapevine company acquires San Antonio family business

Grapevine-based Able Machinery Movers, a heavy machinery-moving and rigging company, announced Nov. 24 the acquisition of Diamond E Rigging, a family-owned rigging and heavy equipment relocation business...

Arlington firm designing new hotel in Las Colinas

Arlington-based Type Six Design & Development has announced the firm has received zoning approval from the City of Irving for a new six-story Hotel...

New ownership at WineHaus

WineHaus Fort Worth announced a change in ownership and updates to the popular wine bar located at 1628 Park Place Ave. New owners Robyn Davis...