Attempted Raid on Permanent School Fund Slapped Back For Now

Attempted Raid on Permanent School Fund Slapped Back For Now

The 2019 legislative session continues to be a harrowing experience for freedom-loving Texans. But even in the midst of the state’s leadership giving in to the anti-Liberty agenda, we may have stalled their plans to raid the Permanent School Fund.

As reported by the TNM, Governor Abbott and his cronies were trying to grab-up the PSF, taking it away from the elected State Board of Education and putting the tens of billions of dollars under a board appointed by the governor. This arrangement effectively would create a situation of low accountability, susceptible to abuse.

However, word has evidently gotten out about this massive government cash-grab due in no small part to the efforts of the Texas Nationalist Movement by sounding the alarm. SB 2440 was scheduled for a hearing this past week and the TNM was there to testify. But the committee gaveled in and out without SB 2440 being heard. Although it was listed on the committee schedule it was never mentioned.

It remains to be seen if this is a case of the political class realizing that the jig-is-up on their attempted power grab beating a hasty retreat, or if the move merely represents a tactical withdrawal to regroup. Only time will tell. However, for the moment, this bill has not been rescheduled for a hearing and may be on ice.

Call Senator Larry Taylor at (512) 463-0111 and tell him that you want him to pull SB2440 and SJR48.

Below is a copy of the prepared testimony from TNM President Daniel Miller.

My name is Daniel Miller and I am here representing the 381,461 declared supporters of the Texas Nationalist Movement and we stand together in opposition to SB 2440 and SJR 78. While we are well aware that recent audits of the Permanent School Fund have shown that it has under-performed and has issues that should be addressed, the fact remains that despite its shortcomings it is the largest and most successful sovereign wealth fund in the union. It has been so for one reason and one reason alone – it is in the hands of an elected body DIRECTLY accountable to people of Texas. The TNM agrees that steps need to be taken to increase transparency and accountability in the management of the Permanent School Fund, much like the rest of Texas Government, but this legislation seeks to fix these challenges by placing the PSF in the hands of an unelected board of bureaucrats. At what time in history has the answer to any problem been to give it over to a group of unelected bureaucrats? Granted, this group of unelected bureaucrats will be appointed by the Governor, but pardon me if that doesn’t exactly instill me or the people of Texas with confidence. In 1876, the framers of the Texas Constitution wisely put this fund in the hands of the ELECTED State Board of Education, to eliminate the cronyism and plunder that occurred when it was in the hands of unelected bureaucrats. I, therefore, ask you to resist turning back the clock on the Permanent School Fund by sending this piece of legislation to the 19th century where it belongs and vote ‘no’.

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