Abbott Pours Cold Water On Texas Tech PUF Dream
Texas Governor Greg Abbot was in Lubbock over the weekend holding a campaign rally at Cagle Steaks & BBQ. The event, part of Abbott's "Celebration of Texas" tour came to Lubbock at noon on Saturday.
During the event, Abbott pointed to the accomplishments made during the legislative session. He also discussed the ongoing crisis along the Texas/ Mexico border and the steps he and other's in the state have taken to better secure the border. Governor Abbott also point to wins for the Second Amendment during his time as Governor of Texas. Abbott also discussed the need for parents to be involved in education and to be aware of what is happening in some schools in Texas. Recently, Abbott unveiled the Parental Bill of Rights and he has been campaigning on it.
The Governor also discussed the power grid and how well it held up during the last winter storm.
The Governor then discussed a topic that is a sensitive one around here. The Permanent University Fund, also simply referred to as PUF. The Permanent University Fund provides money for both the University of Texas and Texas A&M, but not Texas Tech or any other university in the state despite the fact that the land were the revenue is generated for the PUF is in West Texas.
On Saturday, Governor Abbott told attendees at the rally that he supports the State of Texas creating an endowment for Texas Tech University of $1 billion dollars according to KAMC.
I want the State of Texas to create an endowment for Texas Tech University of $1 billion to elevate the university even more,” Abbott told the crowd.
“… The combined asset value of the Texas Tech University System endowment has grown to more than $1.69 billion thanks to the generosity of our donors …” the university said in a 2021 endowment report.
The report described an endowment by institution as follows:
- 60% Texas Tech University
- 16% Texas Tech University Health Sciences Center
- 14% Angelo State University
- 10% Texas Tech University Health Sciences Center El Paso
- <1% Texas Tech University System
When the Governor was asked about the chances of Texas Tech being able to access PUF funding, Abbott told KAMC that the chances of that happening were "about zero" but the endowment is "extremely high".
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