This November, Houston voters will face a crucial decision regarding a historic $4.4 billion bond proposal for the Houston Independent School District (HISD).
This bond, the largest in Texas history, has garnered unanimous support from bureaucrats at the district’s state-appointed board of managers.
However, it is imperative for Houston voters to reject this proposal due to its sheer size, potential financial impact, and fiscal irresponsibility.
At $4.4 billion, this bond proposal represents the largest debt package in Texas history. All bonds, by definition, are debt, meaning this proposal will place a significant financial burden on Houston’s taxpayers for years to come. It’s crucial to remember that bonds are not free money; they are loans that must be repaid with interest, often leading to higher taxes in the future to cover these obligations.
HISD Superintendent Mike Miles has assured voters that property taxes will not increase to fund this bond. Such promises often come with hidden caveats. At the end of the day, all bonds create debt that can only be paid for by taking more money from the wallets of taxpayers.
Houston voters must carefully consider the implications of this bond proposal. While it purports to address critical needs within the district, the sheer size of this unprecedented $4.4 billion debt package raises serious concerns. Supporting this bond means placing an enormous financial burden on the community and future generations, without the assurance of responsible and transparent management.
By rejecting this bond, Houston voters can send a clear message that financial competency and responsible stewardship of taxpayer money are non-negotiable.
Texans for Fiscal Responsibility relies on the support of private donors across the Lone Star State in order to promote fiscal responsibility and pro-taxpayer government in Texas. Please consider supporting our efforts! Thank you!
Get The Fiscal Note, our free weekly roll-up on all the current events that could impact your wallet. Subscribe today!
