In his annual address to the Real Estate Council of Austin, Mayor Kirk Watson warned of significant "budget asteroids" due to potential state and federal policy changes. He emphasized that tariffs could increase costs in Austin, cascading down through the economy. A potential removal of the federal tax exemption on bond funding could add $22 million in costs per $100 million of debt, affecting infrastructure projects and affordable housing initiatives. Watson expressed concern that escalating costs could hinder progress on pivotal projects, including airport expansion and housing affordability.
"It is not a political statement, it's an economic statement to say that tariffs are going to add some cost to things in Austin and those costs will go down the chain."
"I really worry what that does to affordable housing and whether it is even doable anymore under those circumstances."
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