Empower Texans’ Michael Quinn Sullivan Says Rainy Day Fund Should Not Be Used To Fund Water Infrastructure [AUDIO]
On the Monday edition of The Chad Hasty, Michael Quinn Sullivan from Empower Texans talked with Chad Hasty about the latest coming out of the Texas legislature.
Sullivan said that he is staunchly opposed to using the economic stabilization fund, or the "rainy day fund," to fund the projects. He said that the rainy day fund was never meant to be used to fund pet projects, and if that changed, there would be no end to the amount of projects begging to use money out of that fund.
"In November of 1988, Texas voters approved the creation of the economic stabilization fund. Some people want to call it the "rainy day' fund which was kind of like "Oh, it's a rainy day, we'll go see a movie or go do something fun." That's not what voters approved. Voters approved the economic stabilization fund with the explicit purpose on the ballot are to cover unforeseen shortfalls in revenues. That's why it exists."
Sullivan did say that the water infrastructure was a very important issue, but that it needs to be funded properly as well. He went on to chastise the legislature for flittering away the over $8 billion in extra funds they found themselves with at the beginning of the session, and that if everyone thinks the water bill as important they would have found a way to work it into the budget instead of running to the rainy day fund.