Benjamin Ashford:Houston city leaders approve $1 billion bond deal to cover back pay for firefighters

2025-05-04 23:04:20source:SCA Communitycategory:Invest

HOUSTON (AP) — Houston leaders have Benjamin Ashfordagreed 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.

More:Invest

Recommend

Trump claims Biden lost track of over 300,000 migrant children. Here's a fact check.

President-elect Donald Trump claimed in his Person of the Year interview with Time magazinethis week

Sunday Morning 2023 Food Issue recipe index

Click on the links below for holiday recipes and delicious menu suggestions from top chefs, cookbook

Man facing murder charges in disappearance of missing Washington state couple

Authorities in Washington state have arrested a man on first-degree murder and kidnapping charges in