The Texas Public Policy Foundation’s (TPPF) Center for Local Governance Director James Quintero today issued the following comments in response to yesterday’s statement by Fitch Ratings regarding the Dallas Police and Fire Pension. Quintero emphasized that unless meaningful pension reform legislation is passed in the 85th Texas Legislative Session, a “multi-notch downgrade” of the City of Dallas’ rating may occur.
“The Dallas Police & Fire Pension System is on the verge of absolute disaster, threatening to wipeout retirees and taxpayers alike,” said Quintero. “A failure of this magnitude should have never been allowed to occur, and it’s essential that the new Texas Legislature take steps to see that it never happens again.”
To schedule an interview with Mr. Quintero please contact Elizabeth Lincicome at [email protected] or 919-744-8087.
James Quintero is Director of the Center for Local Governance and leads the 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.