Every two years, legislators must write a new state budget that best serves the people of Texas while also limiting the burden it places on them. In order to write such a budget, the Legislature has to maximize available tax dollars by balancing actual needs and available revenue. Remember, for every dollar the Legislature allocates to one area of the budget, it loses the ability to spend it in another.
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