Financing the state’s huge appetite for roadways and infrastructure will certainly be challenging. Texas will either have to raise taxes-a bad move in any economy, but an even worse policy decision in today’s souring economic environment-or look to alternative funding methods. One such method: public-private partnerships (PPPs).
Without True Local Control, Pension Problems Spiral
The 45th Legislature established the Texas Local Fire Fighters Retirement Act (TLFFRA) in 1937 to create local retirement systems for the benefit of full-time, part-time, and volunteer firefighters in participating cities. At the time, lawmakers intended to create a general governance structure while still “leav[ing] administration, plan design, contributions, and specific investments to each system’s...