Hegar asks Big Three to prioritize things other than tax cuts
Amid a deadlock between the Texas House and Senate over how to cut taxes, the state’s chief accountant this week sent a letter to the leaders of the two chambers, as well as Gov. Greg Abbott, asking them also to prioritize spending on roads and an insolvent state employee pension system, among other things.
“As comptroller, I want to emphasize that in addition to tax cuts, it is also important to consider the long-term challenges affecting the state’s balance sheet and credit ratings,” Glenn Hegar, a Republican, wrote to Abbott, House Speaker Joe Straus and Lt. Gov. Dan Patrick in a letter dated May 4.
Among the challenges Hegar listed: Infrastructure (roads), state employee pension funding, long-term debt, other post-employment benefits — like teacher health care — the Texas Tomorrow Fund and delayed maintenance at state facilities.
“Attention to these issues is vital to the maintenance of” the state’s good credit rating, Hegar — a former state lawmaker — wrote, noting Texas “currently enjoys the highest credit ratings from the major rating agencies, which translated into lower borrowing rates for state issued obligations and less costs to taxpayers.”
Read more: http://www.statesman.com/news/news/state-regional-govt-politics/hegar-asks-big-three-to-prioritize-roads-pensions-/nmCMK/
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