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Texas House and Senate Budgets Below TPPF’s Conservative Texas Budget

5/3/2021

 
TPPF Conservative Texas Budget: $246.8 Billion

Texas Senate Committee Substitute Budget: $244.7 Billion

Texas House Committee Substitute Budget: $240.9 Billion

This table provides an apples-to-apples comparison of amounts appropriated for the 2020-21 budget from the Legislative Budget Board’s (LBB) Fiscal Size-Up and each chamber’s 2022-23 appropriated amounts. We compare each chamber’s appropriated amounts with the Foundation’s Conservative Texas Budget (CTB) limits for state funds and all funds (state and federal) based on a maximum increase of 5% in population growth plus inflation over the last two fiscal years.

We exclude from the 2020-21 budget the designated $8.3 billion in Hurricane Harvey recovery one-time expenses and $5 billion in general revenue for school district M&O property tax relief in HB 3 from the 2019 session. Likewise, we exclude from each chamber’s version of the 2022-23 budget the $6 billion in general revenue to maintain last session’s property tax relief—which without this allocation would result in school district M&O property taxes rising 7 cents and likely in increased spending—and will exclude one-time COVID-related funding. The exclusion of one-time expenses for a declared disaster recovery is important for budget transparency and for not inappropriately inflating the base by that amount allowing for excessive spending later.

Fortunately, the passed versions of the budget by the Senate and the House fall well below the CTB limits in state funds and all funds, and neither appropriates money from the rainy day fund. This must be maintained—with hopefully more tax relief—by the conference committee and Governor Abbott to account for the average Texas taxpayer’s ability to pay for government spending while leaving more money in the productive private sector to let people prosper.

https://www.texaspolicy.com/txbudget/

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    Vance Ginn, Ph.D.
    ​@LetPeopleProsper

    Vance Ginn, Ph.D., is President of Ginn Economic Consulting and collaborates with more than 20 free-market think tanks to let people prosper. Follow him on X: @vanceginn and subscribe to his newsletter: vanceginn.substack.com

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