Top concerns for Texas businesses
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Illustration: Aïda Amer/Axios
Recession concerns, domestic policy uncertainty and inflation were top of mind for business executives in Texas last month, per surveys conducted by the Federal Reserve Bank of Dallas.
The big picture: Compared to June, Texas executives surveyed in September were less concerned about geopolitical instability and more concerned about domestic policies, labor costs and inflation over the next six months.
How it works: The Dallas Fed surveyed 323 business executives Sept. 16–24, before the federal government shut down.
The intrigue: Nearly one-third said they expect to see a positive impact from the tax provisions in President Trump's "big beautiful bill." Around 13% were expecting a negative impact, and 22% didn't know the impact yet.
- Increasing capital spending and employee wages, and paying down debt were the top plans for businesses expecting a positive impact from the legislation.
Fun fact: The combined share of workers either fully remote or hybrid within the companies surveyed has nearly quadrupled since February 2020.
- 15% of the companies' workers were fully remote as of September, and almost 17% had a hybrid schedule.
Yes, but: Many Texas business executives are still not fond of remote work, per survey comments compiled by the Dallas Fed.
- "Remote work does not allow for water cooler talk, which is vital for a healthy community and deeper personal connections," one executive wrote.