For Immediate Release
March 21, 2018
***Mike Collier: Texas’ Failed Leadership Puts State at Risk of Credit Downgrade and the Republican Comptroller Agrees***
Houston, TX — TODAY, Mike Collier reacts to recent comments made by State Comptroller Glenn Hegar regarding the risk of the State of Texas receiving a credit downgrade. Hegar warned lawmakers this week that Texas’ budget is “riddled with enough unfunded liabilities” to worry credit rating agencies.
For years, Collier has been warning Texans that the GOP is leading the state of Texas on path of financial calamity.
In fact, writing for The Texas Tribune in May of 2017, Collier said the following:
“Our state’s top leaders tell us we ought to keep some of the Rainy Day Fund in “reserve,” as if doing so is somehow the conservative thing to do. But look closely, and you’ll see signs that Wall Street is telling Texas to hoard that cash or face a credit downgrade.”
–”What Rainy Day Fund?” (Collier, May 2017)
In response to the latest comments made by Comptroller Hegar about a possible credit downgrade Collier said:
“A downgrade of Texas’ credit rating would make it more expensive for the state to borrow money, increasing our tax burden. And it would damage our state’s reputation as ‘open for business.’ It would be an absolute disgrace.”
“If Dan Patrick thinks driving Texas deeply into debt is good for our state, he should think again. Under Republican leadership the Texas economy has also dropped from 3rd to 21st in the nation.
“The Texas GOP is not fiscally responsible, and they are not good stewards of the Texas economy. Our property taxes are skyrocketing, yet we can’t find money for education and vital services. On top of that, Wall Street is still threatening to downgrade our credit.”
“Four more years of Dan Patrick-style fiscal and economic incompetence will devastate the great State of Texas”
For more information, please visit CollierforTexas.com or visit the campaign’s social media profiles on Twitter or Facebook.