State Leaders Adopt Spending Cap for 2014-15 Budget

The Legislative Budget Board voted Thursday morning to cap the state’s spending growth rate at 10.71 percent for the next two-year budget, while Republican leaders in the Senate signaled plans to fight for a budget with spending even lower than that.

The Texas Constitution states that nondedicated spending can’t grow by more than the growth in the state’s economy, but it doesn’t spell out how to measure that growth. State lawmakers have long relied on estimates of growth in Texans’ personal income.

LBB staff presented the board with five forecasts of 2014-15 Texas personal income growth ranging from 8 ...

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