The latest economy news from The Texas Tribune.
As House Appropriations Committee Chairman Jim Pitts, R-Waxahachie, laid out the first grim round of proposed cuts on Wednesday, even some of his Republican colleagues couldn't stifle their objections. House Democrats went a step further, calling the cuts "akin to asking an anorexic person to lose more weight." Full Story
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House Appropriations Chairman Jim Pitts, R-Waxahachie, laid out the grim details of the proposed budget this morning — but said he still thinks lawmakers can be approve the budget during the regular legislative session. Full Story
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The Legislative Budget Board has begun distributing (to legislators — not to the public) its recommendations for how to save money and raise money to help balance the 2012-13 state budget. They plan to distribute copies of the budget itself (again, to lawmakers only) later tonight, and all of the documents will be available online to the public tomorrow morning. The details are still coming in, but here are some of the headlines from the LBB's Government Effectiveness and Efficiency Recommendations. Full Story
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The Legislature's starting budget will apparently include proposals to cancel popular back-to-school sales tax holidays, cut discounts for retailers who remit sales taxes early, allow sales of liquor on Sundays to increase revenue from taxes on alcohol, cut the state's subsidy of dependent insurance premiums for state employees and lower the tax breaks for energy companies that take on certain high-cost gas drilling projects, sources say. Full Story
With some top state leaders warning that Texas' dire fiscal situation will lead to the loss of several thousand state jobs, House budget writers will release their first draft budget today. As Ben Philpott of KUT News and the Tribune reports, big job cuts may be just the beginning. Full Story
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Despite the budget crisis, thousands of Texas teachers know their jobs are safe. They possess a "continuing contract" — the public education equivalent of tenure. Many of the most senior educators are employed under these contracts, which may complicate the efforts of some districts to cut personnel costs. Full Story
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Trib CEO Evan Smith spent the morning interviewing House Appropriations Chairman Jim Pitts, R-Waxahachie, at a TribLive event. And Pitts made some news. Here are a few headlines. Full Story
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And they're back! Texas lawmakers returned to Austin on Tuesday to launch the 82nd Texas Legislature. Our reporters were there and produced this live play-by-play. Full Story
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The Texas Legislature today starts its 140-day effort to puzzle out a massive budget deficit, political redistricting, immigration and a slew of other gnarly problems. The budget issues came into focus Monday with new numbers from the comptroller, who says the state is recovering, slowly, from the recession. But first, legislators will get organized, voting on new rules, a new Speaker, and getting sworn in. Full Story
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Democratic state lawmakers warned Monday of the "dangerous" cuts to public and higher education that are likely as the Legislature prepares to address a massive budget shortfall. Full Story
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The state will have $77.3 billion in general revenue during the next two-year budget cycle, Comptroller Susan Combs said this morning. The comptroller estimated the Rainy Day Fund will have $9.4 billion in it at the end of the 2012-2013 biennium and that the size of the current deficit is $4.3 billion. Full Story
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The 82nd Texas Legislature convenes in Austin this week, and while it’s not as much fun as the circus — usually — it’s more important and does have its share of comedy and drama. Full Story
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The biggest caucus in the Texas House is the Republicans', now with 101 members. Next? The Democrats', at 49. And then there’s the freshman class — one of the biggest in years — with 38 members. All but six are Republicans, and many of them replaced Democrats. They face some challenges. Full Story
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Lawmakers are waiting for Comptroller Susan Combs to forecast exactly how much money the state will collect between now and August 2013 so they can write a two-year budget that spends no more than that. It's not exactly like opening the envelopes at the Oscars, but the Capitol community will be hanging on her every word. If history is a guide, her estimate of revenues will be closer to the bull's eye than the Legislature's estimate of spending. But this is a dark art; accuracy can be elusive. Full Story
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It's not hard to find strange bedfellows in the Texas Legislature when the bills start flying. Republicans and Democrats frequently cross the aisle to support legislation that they feel will help their constituents. As Ben Philpott of KUT News and the Tribune reports, the same could be true as lawmakers try to figure out how to balance the state budget. Full Story
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It's not hard to find strange bedfellows in the Texas Legislature when the bills start flying. Republicans and Democrats frequently cross the aisle to support legislation that they feel will help their constituents. As Ben Philpott of KUT News and the Tribune reports, the same could be true as lawmakers try to figure out how to balance the state budget during the upcoming legislative session. Full Story
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Get acquainted with a phrase that will be oft-repeated in the upcoming 82nd Legislature’s brawls over public education: unfunded mandate. To help schools cope with any reduced funding, lawmakers will look to relax state regulations that create costs local school districts bear on their own or with limited help from the state. But will dropping these requirements hurt educational quality? Full Story
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Texas alternates election years with governing years, with legislative sessions set in the odd-numbered years after voters choose their leaders. There are variations, but it’s got a rhythm: Choose them, watch them govern, choose, watch. The elections behind us, it’s time to see what this particular bunch will do. Full Story
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Come January, as Texas lawmakers begin work to pass bills and tackle the yawning budget gap, they will go up against a simple but implacable barrier: time. Texas is one of a dwindling number of states whose legislatures hold scheduled meetings only every two years. Just three other, far smaller states — Montana, North Dakota and Nevada — still have biennial legislative sessions. Lawmakers differ on whether this is a good thing or a bad thing, especially for budgeting. Regardless, Texas seems unlikely to change anytime soon. Full Story
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Texas lawmakers have vowed to cut their way to a balanced budget, in the face of a shortfall that could be as high as $25 billion. But their task pales compared to the federal government, which ran a deficit of almost $ 1.3 trillion last fiscal year. As KUT’s Matt Largey reports, a lot's at stake for Austin when the next Congress gets down to business on the next federal budget. Full Story
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