You have probably heard about the Texas “budget crisis,” and been told that to avoid budget cuts we need to tap Texas’ savings account, the Rainy Day Fund. But the reality is very different from the headlines. Texas actually has MORE money to spend now than it spent two years ago.
Toward a More Well-Informed Citizenry
The 86th Texas Legislature sought to enhance public debt transparency through the creation of Voter Information Documents (VID). However, this instrument is not accurately providing debt amounts and needs reform. Key points: Governments are manipulating the VID methodology to deny voters accurate tax impact estimates. Many VIDs are dissimilar, making comparative analysis challenging. There is...