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Texas flood...Noem; I can't find the FEMA checkbook. Besides, didn't you get the memo???
Other states have provided help. I'm thinking that this practice will come to an end; as states will need to keep as much of their own money to help with their future events.
States are neither have the budget and manpower to handle natural disasters. That is what Federal government is for. Interesting how Gov. Abbott spin it as over 200 dead and counting. Hurricane season is upon the southeast, and that would be a mess.
@Sven . Generally speaking, I agree. A bit different in Texas. Texas's Rainy Day Fund, officially the Economic Stabilization Fund (ESF), is projected to reach a record $28.5 billion by the end of the 2026-27 biennium. This represents the fund hitting its constitutional cap for the first time, according to the Texas Comptroller of Public Accounts. Texas set to enter 89th legislative session with substantial budget surplus
Here's a breakdown:
Record Balance: The ESF is expected to reach $28.5 billion, its highest point ever, according to the Texas Comptroller of Public Accounts.
Cap Reached: The fund's growth is limited by a constitutional cap, which it is now reaching.
Funding Source: The ESF is primarily funded by severance taxes on oil and natural gas production. Purpose:
The fund serves as a buffer against revenue shortfalls during economic downturns and emergencies.
Comments
Texas's Rainy Day Fund, officially the Economic Stabilization Fund (ESF), is projected to reach a record $28.5 billion by the end of the 2026-27 biennium. This represents the fund hitting its constitutional cap for the first time, according to the Texas Comptroller of Public Accounts.
Texas set to enter 89th legislative session with substantial budget surplus
Here's a breakdown:
Record Balance:
The ESF is expected to reach $28.5 billion, its highest point ever, according to the Texas Comptroller of Public Accounts.
Cap Reached:
The fund's growth is limited by a constitutional cap, which it is now reaching.
Funding Source:
The ESF is primarily funded by severance taxes on oil and natural gas production.
Purpose:
The fund serves as a buffer against revenue shortfalls during economic downturns and emergencies.