Seeking Higher Ground: Texas Economics and Politics in a Post-Harvey World
In 2017, Hurricane Harvey brought catastrophic rainfall and flooding to the greater Houston area and Southeast Texas. Estimates place the financial toll of the storm at $125 billion (unadjusted for inflation) – tying Hurricane Katrina as the costliest tropical cyclone on record. Despite the unprecedented flood damage from Harvey’s relentless rains, Texas communities were able to reverse their fortunes with great speed, aided by the state’s powerful economic position. Supported by a robust energy sector, the Lone Star State maintains a LIFO economy (Last In to a recession, First Out of a recession) and continues to experience strong expansion, bringing prosperity to all corners of our state as we head into 2019.