The latest economy news from The Texas Tribune.
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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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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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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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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Got a hole in your budget? Cut spending. Shake the couch for spare change. Raid your savings. Ask for a raise, if you think you can get away with it. And when all else fails, sell your assets, right? Not in Texas. The folks who handle the state’s real estate are focused not on the current budget mess, but on ambitious building plans they say will make long-term financial sense for taxpayers. Full Story
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As he sat in traffic last Saturday on the final stretch of I-35 in Laredo in a truck loaded with U.S. goods, Higinio Navarrette was a microcosm of the holiday season on the border: an area where the local economy is as affected by security and cartel-related violence as it is by the nationwide economic slowdown. Full Story
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So much for the economic impact of headline-making violence. Despite being on track to exceed 3,000 homicides this year, Juárez has seen its manufacturing sector flourish, regaining since July 2009 a quarter of the jobs lost during the height of the recession. More than $42 billion in trade value moved through the ports that the city shares with El Paso last year, and that number should be higher in 2010. And the amount of of tractor-trailer traffic hauling goods through the region was 22 percent greater in the first six months of this year than it was in the same period last year. Full Story
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The budget shortfall — estimated to be as much as $28 billion — will require the Legislature to take a paring knife and possibly a machete to government agencies and programs. The largest single consumer of state dollars is public education, so it’s hard to imagine a scenario in which funding for teacher salaries, curricular materials and the like isn’t on the chopping block, especially if lawmakers want to make good on their promises of no new taxes. But where is that money going to come from? Full Story
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As expected, state leaders are asking state agencies to cut their current budgets even more. This time, by 2.5 percent. Full Story
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Republican leaders in the Texas Legislature are insisting that it will be a no-new-taxes session. In response, one Democratic lawmaker is pushing to expand the definition of the word "taxes" to include fees. Ben Philpott of KUT News and the Tribune reports. Full Story
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Republican leaders in the Texas Legislature are insisting that it will be a no-new-taxes session. In response, one Democratic lawmaker is pushing to expand the definition of the word "taxes" to include fees. Ben Philpott of KUT News and the Tribune reports. Full Story
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For this week's installment of our nonscientific survey of political and policy insiders on issues of the moment, we asked whether the Texas Railroad Commission should live or die and whether the commissioners ought to be appointed or elected. And we asked for suggestions on what government is doing now that it ought to stop doing. Full Story
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