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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsTexas governor rejects immediate use of reserves for Houston
Source: Reuters
Texas governor rejects immediate use of reserves for Houston
Reuters Staff
2 MIN READ
(Reuters) - Texas will not immediately tap into its $10 billion budget reserve fund to help Houston pay for Hurricane Harvey recovery costs, the governor said on Tuesday.
In a letter to Governor Greg Abbott dated Monday, Houston Mayor Sylvester Turner requested the move, saying it would allow the city to avoid a temporary property tax increase to raise about $50 million for its share of debris removal costs and for insurance-related payments.
But Abbott said he and other state officials agree the appropriate time to take up the request is during the next legislative session, which does not start until January 2019.
In times like these its important to have fiscal responsibility as opposed to financial panic, the Republican governor told reporters.
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Read more: http://www.reuters.com/article/us-storm-harvey-houston/texas-governor-rejects-immediate-use-of-reserves-for-houston-idUSKCN1C1383
Wellstone ruled
(34,661 posts)Gothmog
(145,321 posts)Laurian
(2,593 posts)He's not willing to use revenue from Texas taxpayers to help Texas taxpayers? What does he plan to do with that money?
dixiegrrrrl
(60,010 posts)Governments just have a tendency to use every cent as it comes in, and if you are a certain kind of Gov. your cronies get rich.
so what you do is fill all those "promise funds" with IOUs...what we know as bonds.
Same thing with the Soc. Sec. trust Fund.....it consists of US Treasury bonds.
So Governments..at all levels....take good money IN ( our taxes) and give debt in return.
So the debt owed increases, over time, and then you have to get the debt ceiling raised.
Over and over and over.
Luckily for Abbott he's got a political excuse re: the legislature.
spanone
(135,844 posts)you can't skim the coffers if you use the money for silly stuff like hurricane debris removal
blogslut
(38,002 posts)Abbott is just plain cruel.