Think Tank. 3 Problems with Texas Rainy Day Fund.

Texas Piublic Policy Foundation in What’s Next for Texas’ Rainy Day Fund? raises these issues with the Rainy Day Fund:

• Voters approved 2 reasons for the Rainy Day Fund: disaster & deficit reduction.
• 30% of the $11.6 billion in Rainy Day Fund expenditures since 1990 have gone to those 2 things
• The Rainy Day Fund Needs these 3 fixes:
  • ​4/5 vote by each chamber to access the fund
  • the constitutional limit should be reduced from 10% to 7%
  • excess severence taxes should be tax relief.