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Texas Taxpayers and Research Association February 2010 www.ttara.org (512) 472-8838 The Fiscal View From Texas Dale Craymer Texas Taxpayers and Research Association dcraymer@ttara.org
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Texas Taxpayers and Research Association February 2010 www.ttara.org (512) 472-8838 Key Facts About Texas 2008 Population24.3 million 2010-11 Biennial Budget All Funds$182.5 billion Discretionary$92.3 billion Budget Deficit$0.0 (for now)
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Texas Taxpayers and Research Association February 2010 www.ttara.org (512) 472-8838 Texas State Budget, 2010-11
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Texas Taxpayers and Research Association February 2010 www.ttara.org (512) 472-8838 The “Structural Deficit”
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Texas Taxpayers and Research Association February 2010 www.ttara.org (512) 472-8838 2010-11 Current Revenues General Revenue and Property Tax Relief Fund in Billions of Dollars (Excludes Federal Stimulus Funds)
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Texas Taxpayers and Research Association February 2010 www.ttara.org (512) 472-8838 Sales Tax Revenues
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Texas Taxpayers and Research Association February 2010 www.ttara.org (512) 472-8838 Handicapping 2012-13 Increasing risk that budget may start with a deficit from 2010-11 State will not have $12.5 billion of “one-time” money spent in previous budget Spending pressures continue to grow –Medicaid –Public Education –Higher Education –Employee Benefits Rainy Day Fund may have $8-9 billion The budget shortfall will exceed amounts in the Rainy Day Fund
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Texas Taxpayers and Research Association February 2010 www.ttara.org (512) 472-8838 Time Honored Budget-Balancing Strategies Cut spending Draw from Rainy Day Fund Adopt worse policies of tax administration Eliminate tax exemptions & credits Raise tax rates
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Texas Taxpayers and Research Association February 2010 www.ttara.org (512) 472-8838 TTARA Dale Craymer: State Budget, Franchise Tax Bill Allaway: Transportation Finance John Kennedy: Sales Tax, Property Tax Sheryl Pace: School Finance George Christian: Property Tax Ryan Ash: Communications, Website
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