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.
Economy
Get the latest on jobs, business, growth, and policy shaping the state’s economy with in-depth reporting from The Texas Tribune.
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TribBlog: Scrounging for Cash
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.
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Economy
TribBlog: Are Tax Holidays Over?
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.
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The Looming Cuts
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.
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Economy
The Tenure Trap
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.
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Economy
TribBlog: Pitts Says Expect Big Budget Cuts
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.
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Economy
Opening Day: The Liveblog
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.
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Economy
Decision Time
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.
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Democrats: “Dangerous” Cuts Ahead
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.
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Economy
TribBlog: The Comptroller’s Big Reveal
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.