Author Topic: Texas lawmakers will have $9B more for next two-year budget, comptroller says  (Read 427 times)

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Online Elderberry

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Houston Chronicle by Allie Morris 1/7/2019

Texas Comptroller Glenn Hegar is predicting 8-percent growth in the state’s tax collections over the next two years, giving hope to lawmakers eager to tackle high-cost plans to reform school finance and offer property tax relief.

“Texas remains economically well-positioned compared to other states,” Hegar said at a presentation Monday of the revenue outlook ahead of the 86th Texas Legislative Session, which begins Tuesday. “The U.S. and global economies are uncertain and any slowdown will affect Texas.”

Hegar is projecting that the legislature will have over $119 billion to spend in the state’s next two-year budget — roughly $9 more than the current plan. State sales tax collections are driving much of the growth and are expected to make up more than half the revenue, Hegar said.

More: https://www.houstonchronicle.com/news/politics/texas_legislature/article/Texas-lawmakers-will-have-9B-more-for-next-13514183.php
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Offline IsailedawayfromFR

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Houston Chronicle by Allie Morris 1/7/2019

Texas Comptroller Glenn Hegar is predicting 8-percent growth in the state’s tax collections over the next two years, giving hope to lawmakers eager to tackle high-cost plans to reform school finance and offer property tax relief.

“Texas remains economically well-positioned compared to other states,” Hegar said at a presentation Monday of the revenue outlook ahead of the 86th Texas Legislative Session, which begins Tuesday. “The U.S. and global economies are uncertain and any slowdown will affect Texas.”

Hegar is projecting that the legislature will have over $119 billion to spend in the state’s next two-year budget — roughly $9 more than the current plan. State sales tax collections are driving much of the growth and are expected to make up more than half the revenue, Hegar said.

More: https://www.houstonchronicle.com/news/politics/texas_legislature/article/Texas-lawmakers-will-have-9B-more-for-next-13514183.php
why must this be spent?

What's wrong with a rainy fund like most of us do to tide us over when things may head south?
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Online Elderberry

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why must this be spent?

What's wrong with a rainy fund like most of us do to tide us over when things may head south?

Point taken. They could use some of it to increase the rainy day fund.

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https://www.texastribune.org/2018/11/30/rainy-day-fund-125-billion-texas-lawmakers-set-75-billion-floor/

As Texas’ savings account swelled to a record high of $12.5 billion this week, a group of state lawmakers on Friday unanimously agreed that the state should leave more than half of it untouched over the next three years.

The joint Economic Stabilization Fund Balance Select Committee voted to keep the rainy day fund’s minimum balance unchanged at $7.5 billion — the same figure they chose in 2016, ahead of their last legislative session.
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Offline the_doc

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Point taken. They could use some of it to increase the rainy day fund.

Wait a minute.  Texas should give the $9B to the Army Corps of Engineers, earmarking it for the longest section of the wall.  $9B would buy a really nice wall for the Great State of Texas.  (A good investment for the Lone Star State, too, I think.)

Offline Amb. Frank Cannon

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giving hope to lawmakers eager to tackle high-cost plans to reform school finance and offer property tax relief.

So now the govt' of TX thinks giving the money back to taxpayers is a "High-cost plan". Man that state is on the edge of becoming California.
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Offline the_doc

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giving hope to lawmakers eager to tackle high-cost plans to reform school finance and offer property tax relief.

So now the govt' of TX thinks giving the money back to taxpayers is a "High-cost plan". Man that state is on the edge of becoming California.

Anyway, that's California's plan for Texas.  Think Beto.

Online DB

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In California governor George Deukmejian ran a surplus and gave the surplus back to taxpayers...

How far the state has fallen since then...

A warning to all to how fast and how far things can fall.

Offline Amb. Frank Cannon

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In California governor George Deukmejian ran a surplus and gave the surplus back to taxpayers...

How far the state has fallen since then...

A warning to all to how fast and how far things can fall.

Didn't he not run again and dump a huge deficit on Wilson?
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Online catfish1957

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Money should go toward calling any high rate state municipal bonds.
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Online DB

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Didn't he not run again and dump a huge deficit on Wilson?

Not that I know of.

https://en.wikipedia.org/wiki/George_Deukmejian#cite_note-41

"In 1983, Deukmejian abolished the Caltrans Office of Bicycle Facilities and reduced state spending for bicycle projects from $5 million to the statutory minimum of $360,000 per year.[32] In 1984, he vetoed A.B. 1, the first bill to ban discrimination against gays and lesbians, which passed the Legislature.[33]

Deukmejian with President Ronald Reagan at a presidential campaign rally in Fountain Valley, California in September 1984
In 1986, Bradley sought a rematch and Deukmejian defeated him by a 61% to 37% percent margin.[25] He was generally regarded as a moderate-to-conservative Republican.[16]

The Deukmejian administration entered office during a national economic recession.[34] He first halted the hiring of new state employees and banned out of state travel for those in government.[35] He rejected the legislature's demands for tax hikes, and pared $1.1 billion from its budget by selectively vetoing spending items.[36] One year later, further cuts, along with a nationwide economic rebound that benefited the state, created a billion dollar surplus for 1985.[37] His 1985 budget slightly increased spending in highway construction, but cut heavily into the education, health, Welfare and environmental budgets.[38] For this he was roundly criticized, and the cuts probably led to his low polling numbers at the end of his tenure as governor.[39][40]

Three years later, Deukmejian faced his own billion dollar deficit.[41] He supported a raise in the state minimum wage in 1989.[42]

Deukmejian largely made his career by being tough on crime.[16] When he was in the legislature, he wrote California's capital punishment law.[16] As a candidate for reelection, in 1986 he opposed the retention election of three Brown-appointed justices of the Supreme Court of California due to their consistent opposition to the death penalty in any and all circumstances.[43][25] One of them (the best known) was Rose Bird, the first female Chief Justice of the Court (and the first one to be voted off).[25] Deukmejian proceeded to elevate his friend and law partner, Malcolm M. Lucas, from Associate Justice to Chief Justice, and appointed three new associate justices.[6] Under Deukmejian, the California prison population nearly tripled — as of December 31, 1982, the total prison population stood at 34,640 inmates.[34] He increased spending for the building of new prisons.[34]"

Online Elderberry

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Wait a minute.  Texas should give the $9B to the Army Corps of Engineers, earmarking it for the longest section of the wall.  $9B would buy a really nice wall for the Great State of Texas.  (A good investment for the Lone Star State, too, I think.)

It would be a very good use of those moneys. T'd think that Patrick would agree.

Quote
Dan Patrick Stands with President Trump in Demanding Fix to Border Crisis

“I am committed to doing everything I can to help the president end this crisis.”
By Cary Cheshire|January 8, 2019
https://texasscorecard.com/state/dan-patrick-stands-with-president-trump-in-demanding-fix-to-border-crisis/   

    President Trump is absolutley right that Congress must pass his commonsense border security bill and end this very real crisis at our southern border. In Texas, illegal immigration costs state taxpayers billions of dollars every year in healthcare, education, and law enforcement costs. In 2018 alone over 500,000 illegal aliens were apprehended crossing the border illegally—300,000 of those were in Texas.     

    Texans see firsthand the tragedies that take place at our border every day. No one should have to die trying to come to America. I was in Washington today working with the president’s team on his historic first address to the nation from the Oval Office and I am committed to doing everything I can to help the president end this crisis. I will be joining him in McAllen on Thursday for a briefing from those working directly on this problem.
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Offline IsailedawayfromFR

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Wait a minute.  Texas should give the $9B to the Army Corps of Engineers, earmarking it for the longest section of the wall.  $9B would buy a really nice wall for the Great State of Texas.  (A good investment for the Lone Star State, too, I think.)
Since other states allow in the illegals and will not have a wall, that wall must be on the rest of our borders as well to be effective.
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Online Elderberry

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The wall is just so long at its current location. We sure didn't think smart at the conclusion of the Spanish America War. We should have claimed all territory down to the southern border of Panama. Then only a little bitty wall would be required.
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Offline the_doc

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Since other states allow in the illegals and will not have a wall, that wall must be on the rest of our borders as well to be effective.

I think that the Red States ought to get together and build a wall around California.

Offline thackney

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why must this be spent?

What's wrong with a rainy fund like most of us do to tide us over when things may head south?

The rainy day fund is getting more dollars as well.  It should rise to $15.4 billion in addition to these funds.  And some of the funds are going to be used to continue repairs from the last rainy day, hurricane Harvey.
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Offline IsailedawayfromFR

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The wall is just so long at its current location. We sure didn't think smart at the conclusion of the Spanish America War. We should have claimed all territory down to the southern border of Panama. Then only a little bitty wall would be required.
Would only have made a difference as long as guys like Carter were not President.  He gave Panama control back over the zone, so he would have done it with a wall in place as well.
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Online Elderberry

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Texas lawmakers indicate they may use rainy day fund for school security, hurricane recovery and teachers’ pensions

http://www.epbusinessjournal.com/2019/01/texas-lawmakers-indicate-they-may-use-rainy-day-fund-for-school-security-hurricane-recovery-and-teachers-pensions/

Quote
By Edgar Walters, The Texas Tribune Jan. 11, 2019

“Texas lawmakers indicate they may use rainy day fund for school security, hurricane recovery and teachers’ pensions” was first published by The Texas Tribune, a nonprofit, nonpartisan media organization that informs Texans — and engages with them — about public policy, politics, government and statewide issues.

A group of state leaders with huge influence over what public services receive funding said Friday they were prepared to make a significant withdrawal from the state’s savings account.

At a public hearing, House and Senate leaders listed myriad needs they could pay for out of the savings account, including leftover costs from Hurricane Harvey, a bill coming due for retired teachers’ pensions and unspecified public school safety improvements. That savings account, known formally as the Economic Stabilization Fund and colloquially as the rainy day fund, is projected to reach an unprecedented $15 billion in the coming budget cycle if left untouched.

“I think we all are realistic that we may have to tap into the rainy day fund for one-time expenditures, more than we have in the past,” said Lt. Gov. Dan Patrick at the end of a roughly 10-minute meeting of the state’s Legislative Budget Board.

That would include money for Hurricane Harvey recovery — something the state will “for sure” pay for out of the rainy day fund, said state Sen. Jane Nelson, the upper chamber’s lead budget writer.

More at link
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