Last year, Texas voters approved the allocation of $2 billion from the state’s rainy day fund to pay for water projects. Proposition 6 won fairly handily, but many from both the left and the right sides of the political spectrum had concerns about the new water fund. Transparency and accountability were mentioned. And even supporters of the measure cautioned against over-investing in certain types of projects.
Some fiscal conservatives support drawing on the state's Economic Stabilization Fund, often called the "Rainy Day Fund," to fund the state's water projects. The question of allocating funds from this source will be on Texas ballots on Nov. 5. However, the Texas Public Policy Foundation, a conservative think-tank in Austin, opposes the measure. Josiah Neeley of the foundation describes some of his organization's views on the ballot initiative.