Current:Home > NewsSurpassing:Houston city leaders approve $1 billion bond deal to cover back pay for firefighters -Summit Capital Strategies
Surpassing:Houston city leaders approve $1 billion bond deal to cover back pay for firefighters
Poinbank View
Date:2025-04-07 10:07:51
HOUSTON (AP) — Houston leaders have Surpassingagreed to a bond deal that could cost the city’s taxpayers more than $1 billion to cover years of back pay owed to firefighters.
Firefighters in the nation’s fourth-largest city have worked without a contract for seven years. A new settlement and a proposed 5-year labor agreement between the city and their union has promised salary increases of at least 25% over the next five years.
The bond deal approved by Houston City Council on Wednesday would cover about $650 million in retroactive pay for firefighters who have worked since 2017. The cost of the bond, including interest, could be as much as $1.3 billion over 25 to 30 years, depending on bond market price changes.
Three council members voted no on the bond deal, hoping to push it to a public vote in November, a move opposed by Mayor John Whitmire.
The council has not yet approved the settlement or the new labor agreement. City Controller Chris Hollins, Houston’s independently elected watchdog, has not certified either of them, a needed step before the council can approve the specific financial commitments needed to take on the debt.
veryGood! (7643)
Related
- Working Well: When holidays present rude customers, taking breaks and the high road preserve peace
- Governor signs bills creating electric vehicle charging station network across Wisconsin
- Wisconsin Supreme Court to decide if counties must release voter incompetency records
- Drake Bell calls out 'Ned's Declassified' stars for appearing to mock Nickelodeon abuse allegations
- The Grammy nominee you need to hear: Esperanza Spalding
- Things to know about the risk of landslides in the US
- Why isn't Kristen Wiig's star-studded Apple TV+ show 'Palm Royale' better than this?
- Supreme Court allows Texas to begin enforcing law that lets police arrest migrants at border
- Scoot flight from Singapore to Wuhan turns back after 'technical issue' detected
- 2 Japanese men die in river near Washington state waterfall made popular on TikTok
Ranking
- A South Texas lawmaker’s 15
- Fire destroys senior community clubhouse in Philadelphia suburb, but no injuries reported
- Historic covered bridges are under threat by truck drivers relying on GPS meant for cars
- What Anne Hathaway Has to Say About a Devil Wears Prada Sequel
- Taylor Swift Eras Archive site launches on singer's 35th birthday. What is it?
- NFL mock draft: New landing spots for Drake Maye, J.J. McCarthy as Vikings trade to No. 3
- Nevada judge blocks state from limiting Medicaid coverage for abortions
- More than 6 in 10 U.S. abortions in 2023 were done by medication, new research shows
Recommendation
US appeals court rejects Nasdaq’s diversity rules for company boards
Spring brings puppy and kitten litters. So make sure to keep them away from toxic plants.
Mega Millions winning numbers for March 19 drawing: Lottery jackpot soars to $977 million
Highlights from the AP’s reporting on the shrimp industry in India
McKinsey to pay $650 million after advising opioid maker on how to 'turbocharge' sales
Nevada judge blocks state from limiting Medicaid coverage for abortions
Jimmie Allen Privately Welcomed Twins With Another Woman Amid Divorce From Wife Alexis Gale
Shhhh! If you win the Mega Millions jackpot, be quiet. Then, do this.