The Texas Public Policy Foundation today released a paper on local debt in Texas by James Quintero, director of the Center for Local Governance. The paper, “Red Ink Rising in the Lone Star State: FY 2016,” examines the growing public debt accumulated by cities, counties, school districts, and special districts in Texas.
“Local government debt continues to swell to new and alarming levels,” said Quintero. “According to new data for FY 2016, red ink spilled by cities, counties, schools, and special districts totals more than $218 billion, meaning that the average Texan owes $8,000 for his or her share of local government excess while the obligations for a family of four exceed $30,000. The size and growth of local debt poses a major threat to the Texas Model. Low taxes and limited government are key ingredients to Texas’ economic ascent, and those elements must be preserved to keep the Lone Star State moving in the right direction.”
To read the full publication, please visit: http://txpo.li/2nKpEd4
For more information or to request an interview with Mr. Quintero, please contact Caroline Espinosa at [email protected] or 512-472-2700.James Quintero is Director of the Center for Local Governance and Think Local Liberty project at the Texas Public Policy Foundation.
The Texas Public Policy Foundation is a non-profit, free-market research institute based in Austin, Texas.