Glenn Hegar — Republican
Campaign Website: glennhegar.com
Rainy Day Fund: What is the optimal amount to be held in the Rainy Day Fund? How would you balance paying down the state’s debt vs. responding to urgent needs?
Texas is blessed to have a strong Rainy Day Fund, which is designed and should be used to smooth out the state’s revenues during an economic downturn, to assist in a disaster, and for one-time expenses that are strategic for Texas’ economic health and well-being. I fought to manage these dollars more effectively to guard against inflation and protect them for generations.
Taxes: What is the proper balance of tax revenues sources in order to fairly fund state government, including public schools?
Funding public schools in Texas has been a shared burden split between state funds and local property taxes. Until recently the local share was allowed to grow unchecked creating increased pressure on local property taxes. I helped compress local property tax rates and rebalance the burden between state funds and local taxpayers. Our strong economic recovery now puts us in a position to do more.
Financial Obligations: How can we ensure that Texas meets its long-term financial obligations such as infrastructure maintenance, state employee pensions and health care coverage for public school teachers and employees?
Since practically my first day in office I have sought to shine a light on the state’s balance sheet and the need to address our long-term obligations. I fought to address threats to our state’s fiscal health and ensure Texas teachers can access quality healthcare. I helped lawmakers pass historic pension reform to put our state on firm footing and avoid credit downgrades.
Priorities: What would be your highest priorities for the next four years, and how do you intend to accomplish them?
I will continue to focus on the core constitutional duties of my office and that means maintaining my attention on the Texas economy. Navigating the last few years has been difficult, but I have always remained focused on the trends, challenges and opportunities in our state economy. We must fight to keep Texas a place where freedom creates new opportunities for families and businesses to thrive.
Janet T. Dudding – Democrat
Campaign Website: janetdudding4texas.com
Rainy Day Fund: What is the optimal amount to be held in the Rainy Day Fund? How would you balance paying down the state’s debt vs. responding to urgent needs?
Government Finance Officers Association recommends a minimum of two months of regular revenue or regular expenditures be maintained in a rainy day fund. Typically, rainy day monies mitigate the risk of unstable revenues or unexpected expenditures. Natural disasters fall into the second category and Texas ranks first in these. The state of Texas’ general obligation debt currently is rated Aaa/AAA/ AAA/AAA.
Taxes: What is the proper balance of tax revenues sources in order to fairly fund state government, including public schools?
Find new revenue for Charter & 313. Texas Legislature added $6.5 billion in funding to public schools in 2019. Yet per a 2021 SPLC report, Texas currently ranks 40th in the nation. New revenue streams are needed. Legalizing adult-use cannabis could bring $1 billion in tax revenue (and decriminalization could save $300 million). Look at “green” taxes to build revenue streams from green energy.
Financial Obligations: How can we ensure that Texas meets its long-term financial obligations such as infrastructure maintenance, state employee pensions and health care coverage for public school teachers and employees?
Re infrastructure, accept & leverage federal dollars. With fuel efficient vehicles, look at creating a revenue from alternative fuels to maintain roads. Public school benefits: employees in all but ~18 school districts do not participate in Social Security and they should. Public school employees should have excellent healthcare without sharing premium costs. Reduce public school property tax reliance
Priorities: What would be your highest priorities for the next four years, and how do you intend to accomplish them?
Statute defines Comptroller as state’s ‘sole’ accountant. We’ve never had a CPA as our Comptroller. I will be the watchdog over tax dollars, answerable to Texans not special interests. As a hurricane survivor, climate-disasters are personal to me and I will work to mitigate the root cause as well as our risk exposure through SECO. Expand broadband by partnering with local government utilities and coops.
V. Alonzo Echevarria-Garza – Libertarian
Campaign Website: alonzo-echavarria-for-texas-state-comptroller.com/
Rainy Day Fund: What is the optimal amount to be held in the Rainy Day Fund? How would you balance paying down the state’s debt vs. responding to urgent needs?
I would suggest six months of operating expenses is a good start. However, this depends on the mitigating policies implemented by the state.
Taxes: What is the proper balance of tax revenues sources in order to fairly fund state government, including public schools?
I don’t believe there is, strictly speaking, a proper balance that policy makers should adhere to, or fix to fairly fund state government or public schools. The question is not the balance amounts, but what mechanisms are in place to adapt.
Financial Obligations: How can we ensure that Texas meets its long-term financial obligations such as infrastructure maintenance, state employee pensions and health care coverage for public school teachers and employees?
Budget analyst and policy makers must utilize the social discount rate in performing cash discounting of projects, and cost benefit analysis.
Priorities: What would be your highest priorities for the next four years, and how do you intend to accomplish them?
The highest priority is to implement policies that may improve operations, optimize benefits, and offer flexibility in dealing with financial challenges. These policies will not only improve conditions in four years, but beyond my own term in office.
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