Texans Debate Water Development

Politicians in the drought-prone Lone Star State are duking it out over a possible $2 billion funding allocation to the Texas Water Development Board, an entity that is tasked with developing water-supply projects such as reservoirs and pipelines. Presently, the agency’s loan portfolio is at its highest level ever — $5.8 billion. According to supporters, a $2 billion injection from the Texas Rainy Day Fund could be leveraged into $27 billion in water-related infrastructure over the next 50 years. Critics contend that the requisite accountability isn’t in place.