Whenever we have a pet project (important or not) that we cannot get funded through the legislative process, we can always propose a Constitutional amendment to raid the Economic Stabilization Fund (aka “Rainy Day Fund”).
What’s that you say??? It’s not free money?
Are you suggesting it is a Constitutionally protected pool of excess tax revenue that is set aside for true emergencies and natural disasters?
Everyone I know agrees on the importance of issues like water, transportation, education …. If the solutions to these and other important issues was simple, there would be no concern or disagreement. If the question however, is how do we fund these programs, my instincts tell me the Economic Stabilization Fund may not be the answer.
Senate Passes Senate Joint Resolution 1 and Senate Bill 1
Senator Estes supports both to increase transportation funding while protecting the Rainy Day Fund
– Beginning the Third Called Session, Senator Estes voted in favor of a legislative package that will increase transportation funding and ensure a healthy balance in the Economic Stabilization Fund, known as the Rainy Day Fund.
QUOTING… “When I feel the heat, I see the light.” — Everett Dirksen
From EmpowerTexans.com, by Michael Quinn Sullivan, 07/17/13 – With the kind of mind-wrenching contortions only a politician can muster without breaking a sweat, the Texas House Select Committee on Transparency will soon be meeting behind closed doors.
Apparently some legislators aren’t too keen about Texans finding out they’re trying to silence a university regent who has been asking one too many tough questions. Questions the answers to which might point to corruption, influence-peddling, and fiscal mismanagement. Can’t talk about that, can we?
Maybe they don’t want to… But we will.
I recently sat down with Jonathan Saenz from the Liberty Institute and gave an interview on some of the conservative victories from this legislative session. Continue reading →
This legislative session, as we faced the worst economy in 75 years, Texas passed a responsible balanced budget – one which did not raise taxes and cut 8.1% in total spending. Last November Texans sent a clear message that they wanted to see less spending of their hard-earned taxpayer dollars and I believe this budget is a reflection of that wish.
To balance the budget with no new taxes, some tough cuts had to be made to many state agencies. The natural resources budget was cut by 25%, general government operations were cut by 19%, the judiciary by 13%, and the legislature by 9%. Continue reading →
Currently the Texas Economic Stabilization Fund (otherwise known as the Rainy Day Fund) is only about 4% of the total state budget. This reserve fund was created for emergencies and economic shortfalls. Typically businesses and families are encouraged to have at least a 10% reserve fund for bad times. What percentage of the total state budget do you think is appropriate for the Economic Stabilization Fund? Please click HERE to vote in this poll. It is a pleasure to serve you in the Texas Legislature.
Despite garnering 79 votes to eliminate a provision that would automatically spend money from the state’s Rainy Day Fund in the future, State Rep. Phil King (R-Weatherford) was unable to eliminate this reckless addition to SB2.
Here’s the play-by-play:
- Yesterday on 2nd Reading, Rep. Donna Howard proposed an amendment that would automatically spend RDF dollars in the future.
- Howard’s amendment was adopted without a record vote.
- Today on 3rd Reading, Rep. King attempted to strip the Howard amendment.
- Due to House rules that amendments added on 3rd reading must garner 2/3 support, Rep. King’s efforts failed despite a 79-65 vote. Continue reading →