Labor & Economic News Blog

Friday, May 18, 2007

Texas lawmakers on the verge of rejecting accounting requirement that state and local governments disclose the cost of the health care promised to ret

Texas lawmakers on the verge of rejecting accounting requirement that state and local governments disclose the cost of the health care promised to retirees
Passing a bill would be an unprecedented rebuff to the independent board that writes accounting rules for the nation’s states and cities, and officials of the board are watching to see if Texas inspires copycat rebellions elsewhere. The accounting rule that has run into a buzz saw of criticism in the state capital, Austin, is intended to encourage politicians to deal ahead of time with the huge obligations they have imposed on future taxpayers.

 



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