Author Profile

Paul Colbert

Former legislator

Paul Colbert, a former state representative from Houston, chaired budget and oversight of public education on the House Appropriations Committee and was one of the creators of the state's Economic Stabilization Fund. He has been a consultant on public policy since retiring from the Legislature.

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Original intent and the Texas Rainy Day Fund

The reason we created the fund was to flatten out the available revenue stream from the up-and-down swings of the economy so that constant levels of services could be provided, including covering higher costs as those needing or qualifying for government services increase.