Noack explores local economic stimulus plan using CARES Act funds
SPRING, TX -- Montgomery County Precinct 3 Commissioner James Noack wants to put millions of dollars back in local taxpayers’ hands in order to help stimulate the economy as the area recovers from the coronavirus pandemic.
Last Friday, the federal government deposited just under $105 million into Montgomery County’s account as part of the Coronavirus Aid, Relief, and Economic Security Act of 2020.
The CARES Act provides that payments from this distribution cover costs incurred between March 1 and Dec. 30, 2020, which were necessary expenditures due to the COVID-19 public health emergency. Such expenditures cannot be accounted for in the current fiscal year budget as of March 27, the date the federal CARES Act was enacted.
Commissioner Noack understands that the country is facing two crises – one a worldwide pandemic; and the other involving the health of our economy, which has suffered crippling blows due to the ongoing government-mandated shutdowns.
Noack is proposing the use of a portion of local CARES Act funds go back to Montgomery County taxpayers in the form of stimulus checks. The amount of each check would be based on a percentage of last year’s county property taxes paid by each individual or entity, similar to the federal government’s formula of using AGI (adjusted gross income) to determine stimulus check amounts.
“The orders issued in Montgomery County and subsequently by Texas Governor Greg Abbott were to flatten the curve, not our economy,” Noack said. “These federal funds are not a gift to Montgomery County taxpayers. These are their dollars; and the best use of these funds is to put them back in their hands.”