Dedicating a portion of the sales tax–the state’s largest general tax–is not good fiscal policy. It would reduce the amount of funds subject to an already weak state expenditure limit in addition to other problems.
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...