Strong financial background for Debt Management issue
Texas Insider Report: AUSTIN Texas Representative
Tan Parker Chairman of the Republican Caucus and the House Investments & Financial Services Committee appointed
State Rep. Giovanni Capriglione (right) to the
important position of Sub-Committee Chairman on State & Local Bonded Indebtedness which has been charged with addressing
the effects of Texas bonded indebtedness on our economy.
Created this session the sub-committee will have five members and be charged with considering legislative measures dealing with the authority to issue bonds the effects of bonded indebtedness on our economy and the transparency provided to taxpayers regarding bond issuance and transactions.
In making the appointment Chairman Parker stated
Bonded indebtedness has always been a tool for state and local governments to finance certain aspects of public services however the time has come for us to take a step back examine our processes and see if reform is necessary.
Representative Capriglione will bring a fresh and thoughtful perspective to this issue and I look forward to working with him as the Texas House addresses debt management.
There is no doubt in my mind that Representative Capriglione is the right man for this very critical job."
Observers have noted that bonded debt has grown substantially in Texas since 2000. A 2012 Texas Comptroller report on local debt cited that Texass local debt per-person exceeded $12400 at that time.
As such the time has come for legislators to take a serious look at this issue.
Joining Capriglione on the State and Local Bonded Indebtedness Sub-Committee are Representatives:
- Dan Flynn
- Brooks Landgraf
- Oscar Longoria and
Phil Stephenson
I am honored to serve as the chairman of an Investments and Financial Services subcommittee and I thank Chairman Parker for the appointment" said Capriglione.
My background in private equity will prove useful to the subcommittee and I am eager to work with my colleagues to facilitate thoughtful discussions and work towards solid financial solutions for all Texans.
Serving in his 5
th term in the Texas Legislature Representative Parker is focusing his efforts on economic development job creation strengthening border security promoting fiscally responsible government spending providing a strong education system enhancing public safety and
protecting family values.
Representative Parker is the current Chairman of the Investments & Financial Services Committee. He also serves on the Ways & Means Committee the Redistricting Committee and the Select Committee on State and Federal Power & Responsibility.
