How to Return Taxes
Gina Hinajosa, my Democratic opponent, is proposing to give Texans one-time $1,500 payments if she is elected. Where will that money come from? The “Rainy Day Fund”, which provides a financial reserve for state government. The fund currently has about $25 billion for a biennium state general revenue budget of about $200 billion. That makes the reserve ratio about 15% or 3 months, which is decent. If Gina actually did what she says, that would take about $17 billion out of the reserve, reducing the reserve ratio to about 5% or less than a month. That is very bad policy…