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Texas’s Rainy Day Fund: How to Use It Responsibly

12/10/2020

 
​Texas’s Economic Stabilization Fund (or “rainy day fund”) is a valuable tool for covering unexpected shortfalls in tax receipts, like those during the COVID-19 pandemic, but it should be used sparingly, and budget reductions should be prioritized instead.

Key points:
  • Texas ranks high in economic growth and must maintain a balanced budget, but the current economic situation could strain Texas taxpayers’ ability to pay for the state budget.
  • Texas must exercise fiscal restraint and find responsible budget reductions before it taps into the state’s rainy day fund.
  • Texas state leaders have appropriately begun the process of finding savings in the budget, but additional savings are likely needed and should be realized before using taxpayer money in the rainy day fund.

https://www.texaspolicy.com/texass-rainy-day-fund-how-to-use-it-responsibly/

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    Vance Ginn, Ph.D.
    Chief Economist
    ​TPPF
    ​#LetPeopleProsper

    Dr. Ginn is a free-market, classical liberal economist with  a passion for providing abundant opportunities for people to prosper, which includes promoting policy rules and removing government barriers.

    He grew up in South Houston, Texas where he attended private school, public school and home school, was a hard rock drummer, and was a first generation college graduate from Texas Tech University.

    Dr. Ginn's a recovering academic and a public policy nerd. 

    Follow me on Twitter: @vanceginn. 

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