Chuck DeVore: Appreciation bonds allow school districts to build expensive school buildings, not raise taxes on current voters, and push the obligation to pay onto “future taxpayers” or taxpayers across Texas if they default.

Chuck DeVore is the vice president of national initiatives at the Foundation. He writes about the economy and how energy, tax and regulatory policies influence general prosperity, and he frequently appears on Fox News. He also guides the Foundation’s growing national work in criminal justice reform. He authored the book The Texas Model: Prosperity in the Lone Star State and Lessons for America.