A new year is dawning and the long weekend will provide a nice slow start. But, there’s little doubt that 2016 will pick up steam quickly and be historic in many ways. A presidential election will dominate news, but in Texas, some will be just as interested in issues related to water, transportation, oil and gas prices and local elections.
The fast pace of 2016 will be spurred by a number of actions that occurred in 2015. With new funding, the Texas Water Development Board (TWDB) will accept applications for the second round of funding for water projects throughout the state. Earlier, 48 applications for funding were submitted from water districts. Thirty-nine requests were passed through to a prioritization stage and 21 were approved by TWDB. The applications represented $3.9 billion in funding requests, but the new program only allows for distributions of $1 billion in the first year.
The Texas Department of Transportation (
TxDOT) also has new money to distribute and many new transportation projects are on drawing pads throughout Texas. The agency received $1.7 billion from Proposition 1 funding in 2015, the first year the State Highway Fund split oil and gas tax revenue with the Rainy Day Fund.
TxDOT will get another $1.1 billion in 2016, according to the most recent estimate from the state comptroller’s office. In November,
voters approved Proposition 7, which will provide billions more for road construction, but that funding won’t be available until 2018. The agency’s new executive director,
James Bass, will lead the state’s efforts in 2016.
Additional funding will flow to Texas from the federal government and much of it will ultimately flow to local governments. Earlier this month, Congress passed a budget that contains $1.1 trillion in spending and another $680 billion in tax credit extensions.
Texans were pleased to learn that in negotiating the spending bill, Congress repealed a ban on exporting oil products. That is of great significance to Texas because declining oil prices have dramatically affected the state’s economy. The lifting of the ban will open new international markets to oil producers and provide
opportunities for pipeline companies to expand in various ways. Lifting the ban will also provide increased business for Texas ports. Some experts claim that the export of crude oil will lower the nation’s trade deficit by $22.3 billion by 2020.
Although the state will not have a legislative session in 2016, the State Capitol will be a busy place.
House Speaker Joe Straus and
Lt. Gov. Dan Patrick have announced interim charges and hearings will begin early in the year. Members will deliberate on issues such as broadband Internet services, the implementation of the new highway funding and expansion of telemedicine in Texas.
A fast start to 2016 will begin very soon and there is much to be done. As the clock chimes in another year, the
team at Strategic Partnerships, Inc. looks forward to an eventful, momentous and positive new year.
This article originally published by Strategic Partnerships, Inc.