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The Fiscal View From Texas

The Fiscal View From Texas. Dale Craymer Texas Taxpayers and Research Association dcraymer@ttara.org. Key Facts About Texas. 2008 Population 24.3 million 2010-11 Biennial Budget All Funds $182.5 billion Discretionary $92.3 billion Budget Deficit $0.0 (for now).

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The Fiscal View From Texas

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  1. The Fiscal View From Texas Dale Craymer Texas Taxpayers and Research Association dcraymer@ttara.org

  2. Key Facts About Texas 2008 Population 24.3 million 2010-11 Biennial Budget All Funds $182.5 billion Discretionary $92.3 billion Budget Deficit $0.0 (for now)

  3. Texas State Budget, 2010-11

  4. The “Structural Deficit”

  5. 2010-11 Current RevenuesGeneral Revenue and Property Tax Relief Fund in Billions of Dollars(Excludes Federal Stimulus Funds)

  6. Sales Tax Revenues

  7. 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

  8. 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

  9. 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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