The House reconciliation bill, H.Con.Res.14, is projected to significantly increase federal deficits and debt despite claims of fiscal responsibility, according to the CRFB.
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The U.S. government’s deficit has reached unprecedented levels, with $1.25 trillion in spending during the first two months of the 2025 fiscal year alone (The federal fiscal year begins on October 1 and ends on September 30 of the following year). Rising deficits, driven by record spending and interest payments, are forcing higher interest rates, compounding debt burdens, and fueling persistent price inflation. Without meaningful budget cuts—an increasingly unpopular option—these economic pressures are set to intensify, impacting consumers and taxpayers alike.
Read More![Austin County Considers Gradual Increase in Homestead Exemption Amid Rising Property Values [VIDEO]](https://i1.wp.com/austincountynewsonline.com/wp-content/uploads/2016/10/Austin-County-Courthouse.jpg?w=627&resize=627,376&ssl=1)
During a recent Commissioners Court meeting on June 10, 2024, Austin County officials discussed a proposal to gradually adjust the homestead exemption in response to rising property values, which have increased by over 20% in the past year. The focus was on finding a balanced approach to ease the financial burden on homeowners while maintaining fiscal responsibility for the county. Proposed changes include a moderate initial increase to the homestead exemption, with plans for further analysis and detailed proposals expected before the July 1 deadline.
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