Texas’ government budget is up an excessive 11.8 percent above increases in compounded population growth plus inflation since the 2004-05 budget, and some legislators are frustrated with the budget process because the money saved by cutting spending in one area is often reallocated elsewhere resulting in no reduction in the overall budget. To resolve this problem while relieving taxpayers from the burden of paying higher taxes, we recommend creating the Sales Tax Reduction (STaR) Fund.
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