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Posts Tagged ‘surplus’

Abbott denies his pre-k plan means standardized testing for 4-year-olds

Glad we cleared that up. After questions were raised about language in a policy proposal that appears to call for the biannual testing of pre-kindergarten students, Republican gubernatorial candidate Greg Abbott’s campaign is clarifying his early education plan, saying he is not calling for such tests. The proposal — the first detailed glimpse at Abbott’s education policy — […]

More details on the House budget

Consider this to be written in pencil, because it’s going to change. More than $1.6 billion and disagreements on how much Texas should spend on public education and Medicaid separate the budgets proposed by the House and Senate. The Senate budget proposal, passed 29-2 by the upper chamber last week, spends $195.5 billion, a 2.9 […]

Senate committee restores some money to public education

Emphasis on the “some”. Texas public schools would get back a chunk of the $5.4 billion in state funding they lost two years ago under a budget proposal adopted by the Senate Finance Committee on Thursday. But they probably should not expect much more than the $1.5 billion the committee added to the 2014-15 state […]

Another reason why spending caps are a bad idea

There are many reasons why, but this is one we haven’t encountered before. Several political observers well-versed in the state’s finances say that lawmakers could hit the state’s spending limit this session, complicating efforts to access the $11.8 billion in the state’s Rainy Day Fund. The Texas Constitution says the government can’t grow faster than […]

Here come the tax cut proposals

When the sunny revenue forecast came in, we immediately got one crappy tax cut idea, to eliminate the margins tax at a cost of $4.5 billion. The Texas Association of Business didn’t care for the idea, at least at first, but are now warming up to it, because this is what they do. For Bill […]

Meet the new budget

Same as the old budget. Republican leaders in both chambers of the Legislature on Monday offered spare first drafts of the state’s next two-year budget that continue $5.4 billion in cuts to public education made last session and freeze funding for an embattled state agency set up to find a cure for cancer. Upending recent […]

The revenue estimate is in

And under normal circumstances it would be very good news. Texas Comptroller Susan Combs, laying out the parameters for state spending on the eve of the legislative session, said Monday that the rebounding Texas economy gives lawmakers $8.8 billion unallocated in state coffers for this budget period and an improving picture for the next two […]

The budget mess that awaits the next Governor

We already know that the next Legislative session will be a whole lot of no fun thanks to declining revenue estimates and our structural deficits. Here’s a further illustration of the problem. The current state budget is financed with $12 billion of one-time money (add to the stimulus money several billion the Legislature wisely socked […]