Texas Taxpayers and Research Association February 2010 The
Texas Taxpayers and Research Association February 2010 The Fiscal View From Texas Dale Craymer Texas Taxpayers and Research Association dcraymer@ttara. org www. ttara. org (512) 472 -8838
Texas Taxpayers and Research Association February 2010 Key Facts About Texas 2008 Population 24. 3 million 2010 -11 Biennial Budget All Funds $182. 5 billion Discretionary $92. 3 billion Budget Deficit www. ttara. org $0. 0 (for now) (512) 472 -8838
Texas Taxpayers and Research Association February 2010 Texas State Budget, 2010 -11 www. ttara. org (512) 472 -8838
Texas Taxpayers and Research Association February 2010 The “Structural Deficit” www. ttara. org (512) 472 -8838
Texas Taxpayers and Research Association February 2010 -11 Current Revenues General Revenue and Property Tax Relief Fund in Billions of Dollars (Excludes Federal Stimulus Funds) www. ttara. org (512) 472 -8838
Texas Taxpayers and Research Association February 2010 Sales Tax Revenues www. ttara. org (512) 472 -8838
Texas Taxpayers and Research Association February 2010 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 www. ttara. org (512) 472 -8838
Texas Taxpayers and Research Association February 2010 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 www. ttara. org (512) 472 -8838
Texas Taxpayers and Research Association February 2010 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 www. ttara. org (512) 472 -8838
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