Rainy Day Fund
Commentary
Sovereign Wealth Funds: A Bad Idea for Texas and the Nation
Recent proposals by President Donald Trump to establish a U.S. Sovereign Wealth Fund (SWF) and by Texas Lieutenant Governor Dan Patrick to remove the cap on Texas’s Economic Stabilization Fund (ESF) are deeply flawed. Both ideas assume that government-run investment…
Explainers
Explainer: What is the Texas Rainy Day Fund?
Most Texas taxpayers have probably never heard of the Economic Stabilization Fund (ESF) or as it’s sometimes referred to, “the Rainy Day Fund.” Our assumption is that lawmakers are content to keep the ESF hidden because if most taxpayers knew…