Tuesday, April 2, 2013

Empower Texans: Obligation to Cut

A battle is brewing this Thursday over Texas' state budget; Empower Texans has the details:
Will taxpayers actually see some gumption from Republicans during Thursday’s debate on the state budget? Several GOP freshmen have pre-filed amendments seeking to cut wasteful government spending in favor of addressing the state’s major unfunded teacher pension liability. How the rest of the GOP caucus votes will be telling.
Several Republican House freshmen have pre-filed amendments to SB 1 – the state’s budget up for debate on Thursday – that would shift wasteful government spending to the Teacher Retirement System (TRS) in order to address the pension fund’s estimated $27 Billion unfunded liability.


While unfunded pension liabilities are a serious problem for state and local governments that require systematic reforms – the state cannot ignore the growing liabilities of the TRS – the fifth largest public pension in the U.S. as of last September. Cutting wasteful government in order to fulfill the state’s current obligation is responsible budgeting.
The action will take place on Thursday evening of this week; if you have a few moments, please tune in throughout the night and let your legislators know how you feel.

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