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Texas governor rejects immediate use of reserves for Houston
Source: Reuters
#ENVIRONMENT SEPTEMBER 26, 2017 / 6:15 PM / UPDATED AN HOUR AGO
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 it’s important to have fiscal responsibility as opposed to financial panic,” the Republican governor told reporters.
-snip-
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 it’s important to have fiscal responsibility as opposed to financial panic,” the Republican governor told reporters.
-snip-
Read more: http://www.reuters.com/article/us-storm-harvey-houston/texas-governor-rejects-immediate-use-of-reserves-for-houston-idUSKCN1C1383
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