Texas lawmakers already looking to raid Rainy Day Fund
Swearing in for the Texas Legislature will open with a sunnier financial outlook than previously expected. State Comptroller Susan Combs announced a $101.4 billion revenue estimate for the next biennium, in addition to $11 billion in the Rainy Day Fund, formally known as the Economic Stabilization Fund.
Gov. Rick Perry and Lt. Gov. David Dewhurst immediately cautioned both chambers against the temptation to use the good news to increase budget spending. However, several conservative members are filing bills that would tap the Rainy Day Fund for one-time expenditures.
A balancing act of protecting taxpayers and investing in vital infrastructure for an ever-growing population should be the goal in these policy making decisions. Particularly, transportation and water issues must be funded in a new manner to meet the basic needs of Texans.
State Rep. Bill Callegari, R-Katy, struck the right tone when he proposed using a portion of the Rainy Day Fund as seed money to invest as a means to providing an increase in revenue for these projects without raising taxes. State Sen. Dan Patrick, R-Houston, declared that the gas tax was originally meant to build roads back when automobiles consumed 14 miles per gallon. With more efficient fuel usage, the tax can no longer keep up with the 1,000 new people that move to Texas every day. It is time for some new Texas-sized solutions.
With half of the state budget dedicated to public education and one-quarter to health care, lawmakers have very little discretionary funds to allocate. It will take creativity and visionary thinking to adequately fund essential services. But the rhetoric I heard around the Capitol this week gives me reason to hope. The next 19 weeks will show us how serious members are to make change.
