FOR IMMEDIATE RELEASE 09/20/2016
STRAUS NAMES APPOINTEES TO ESF COMMITTEE
AUSTIN – Texas House Speaker Joe Straus made appointments Tuesday to the Select Committee to Determine a Sufficient Balance of the Economic Stabilization Fund.
Speaker Straus named Rep. Sarah Davis of Houston as Co-Chair. He also appointed Reps. Donna Howard of Austin, Lyle Larson of San Antonio, Drew Springer of Muenster and Armando Walle of Houston to serve on the committee.
The purpose of the committee is to determine and adopt for the next biennium a sufficient balance of the Economic Stabilization Fund. The committee, created during the 2013 legislative session, consists of five Members of the House and five Members of the Texas Senate.
“Representative Davis and the other members of this committee will represent the House well,” Speaker Straus said. “They will help ensure that we meet the state’s needs within a disciplined budget that keeps an appropriate amount of money in reserves. I want to thank these Members for stepping forward and I look forward to their leadership.”
The Economic Stabilization Fund, also known as the state’s Rainy Day Fund, is projected to have a balance of $10.4 billion at the end of the current budget cycle in August 2017.