$2.5 Billion Water Infrastructure Deal, Additional 20-Year Annual $1 Billion Struck in Texas Legislature
Texas lawmakers have approved a significant investment in the state’s water infrastructure, allocating $2.5 billion to address aging systems and meet future water demands. The plan includes a proposal to dedicate up to $1 billion annually over the next 20 years to the Texas Water Fund, pending voter approval in November. This initiative aims to finance projects such as repairing deteriorating water systems, expanding water supplies, and enhancing flood infrastructure. The Texas Water Development Board will oversee the distribution of funds through existing financial assistance programs.
Community Impact
The investment comes in response to concerns over the state’s water security, with projections indicating a 9% increase in demand and an 18% decrease in existing water supplies by 2070. Senator Charles Perry, a key proponent of the legislation, emphasized the necessity of a reliable water supply for Texas’s economic future. The proposed funding strategy draws parallels to the state’s highway fund, suggesting a model that combines various revenue sources to ensure long-term sustainability.
