You have probably heard about the Texas “budget crisis,” and been told that to avoid budget cuts we need to tap Texas’ savings account, the Rainy Day Fund. But the reality is very different from the headlines. Texas actually has MORE money to spend now than it spent two years ago.
Taxes & Spending
Bigger in Texas: Sizing Up the State’s Finances
Every even-numbered year, the state’s Legislative Budget Board (LBB) publishes a helpful, user-friendly summation of the General Appropriations Act (GAA), otherwise known as the state’s two-year budget. On Wednesday, the LBB published the next iteration—its 2024-25 Fiscal Size-Up. From a 30,000 ft. level, this new report provides “a comprehensive review of how tax dollars were...
August 2, 2024