Texas Comptroller Glenn Hegar announced today he has completed the transfer of about $7.3 billion into the State Highway Fund (SHF) and the Economic Stabilization Fund (ESF; commonly known as the “Rainy Day Fund”). Each fund received nearly $3.64 billion, or 50 percent of the total transfer.
“Texas’ strong economic recovery continues but inflation and supply chain issues coupled with ongoing geopolitical unrest point to uncertainty on the horizon,” Hegar said. “Additionally, our economic strength and business friendly environment continue to attract people and businesses to Texas.
“In order to meet the needs of these new Texans and continue to attract business investment, it is critical that we invest in the infrastructure needed to keep our state fiscally healthy. The ESF and SHF are critical assets for the people of Texas, and these transfers represent a tremendous opportunity to continue to invest in Texas’ future and safeguard our state against uncertainty.”