AUSTIN – Today, Talmadge Heflin, director of the Center for Fiscal Policy at the Texas Public Policy Foundation testified before the Texas Senate Finance Committee on ways to improve the state’s rainy day fund.
“The state’s rainy day fund was created with a vote of the people in 1988 to cover unforeseen shortfalls in revenue,” said Heflin. “We recommend strengthening this fund to better benefit taxpayers by limiting its purposes and providing more opportunities for tax relief.”
A former legislator, Heflin served as chairman of the House Committee on Appropriations in the 78th Legislative Session where he navigated a $10 billion state budget shortfall through targeted spending cuts that allowed Texans to avoid a tax increase.
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The Texas Public Policy Foundation is a non-profit free-market research institute based in Austin that aims to foster human flourishing by protecting and promoting liberty, opportunity and personal responsibility.