Tribpedia: Budget

The Texas Constitution requires the Legislature to balance its budget every year without borrowing against future receipts. That bars the government from deficit spending and forces lawmakers, who meet for 20 weeks every two years, to constantly balance demands for programs and services against voters' desire to limit taxes, fees and other costs of government.

The Legislative Budget Board — a ...

Effort to Tighten Spending Cap Dies

(L-R) State House Speaker Joe Straus, Governor Greg Abbott and Dan Patrick on May 21, 2015.
(L-R) State House Speaker Joe Straus, Governor Greg Abbott and Dan Patrick on May 21, 2015.

The state’s constitutional spending cap will remain untouched this session, and House and Senate leaders are blaming each other for the lack of action on the arcane but politically important measure.

Speaker Joe Straus on April 17th, 2015 during debate of HB 910
Speaker Joe Straus on April 17th, 2015 during debate of HB 910

Final Bill in $3.8 Billion Tax Cut Deal Sent to Abbott's Desk

The Texas House sent a bill increasing the homestead exemption from $15,000 to $25,000 — if voters approve it — to Gov. Greg Abbott's desk on Friday, the last part of a $3.8 billion tax cut deal that includes property tax relief and a reduction in the franchise tax rate paid by businesses. 

 

(L-R) State House Speaker Joe Straus, Governor Greg Abbott and Dan Patrick on May 21, 2015.
(L-R) State House Speaker Joe Straus, Governor Greg Abbott and Dan Patrick on May 21, 2015.

House Sends Franchise Tax Cut to Abbott

Defusing Gov. Greg Abbott’s first public veto threat, lawmakers sent a bill cutting the business franchise tax to his desk Thursday. The House also sent Abbott a bill plugging holes in the 2014-15 budget.

Phil Collins with his collection of Alamo artifacts at his home in Switzerland.
Phil Collins with his collection of Alamo artifacts at his home in Switzerland.

Budget Deal Includes $25 Million Boost for Alamo

Budget writers have added some last-minute cash for the Alamo to spiff up the Texas shrine and its surroundings, in large part to ensure that the state holds on to a collection of Alamo artifacts from British music legend Phil Collins.

Sens. Lois Kolkhorst, Juan "Chuy" Hinojosa, Jane Nelson, Charles Schwertner, Joan Huffman and Reps. Larry Gonzales, Sarah Davis, Sylvester Turner, John Otto and Trent Ashby make up the 2015 budget conference committee.
Sens. Lois Kolkhorst, Juan "Chuy" Hinojosa, Jane Nelson, Charles Schwertner, Joan Huffman and Reps. Larry Gonzales, Sarah Davis, Sylvester Turner, John Otto and Trent Ashby make up the 2015 budget conference committee.

House, Senate Negotiators Reach Deal on Budget

Top House and Senate negotiators sealed up the final unresolved issues on a two-year budget deal on Thursday evening, including removing controversial language that would have killed a proposed Dallas-Houston bullet train.

Republican Comptroller candidate Glenn Hegar speaks with Evan Smith at TribLive on May 29, 2014.
Republican Comptroller candidate Glenn Hegar speaks with Evan Smith at TribLive on May 29, 2014.

Texas Court Ruling Could Undermine Major State Taxes

A tax case started by a chain of movie theaters could cut billions from the state's franchise tax, and could affect the sales tax, too, state Comptroller Glenn Hegar said Wednesday. “The tagline is that the 3rd Court of Appeals ruling really turns two of the major funding streams for the state of Texas on its head,” Hegar said.

 

State Comptroller Glenn Hegar says his revenue estimate to divvy up for the 2016-17 budget will be about $113 billion.
State Comptroller Glenn Hegar says his revenue estimate to divvy up for the 2016-17 budget will be about $113 billion.

Analysis: For Legislators, an Extra Incentive to Finish Budget

If state budget writers can't get a deal on the budget during the regular session, they'll have to come back to finish. And with the state economy slowing down, going into overtime could mean less money for tax breaks and state programs. State Comptroller Glenn Hegar would start a special session on the budget with a new forecast of the state’s economy.

Sens. Lois Kolkhorst, Juan "Chuy" Hinojosa, Jane Nelson, Charles Schwertner, Joan Huffman and Reps. Larry Gonzales, Sarah Davis, Sylvester Turner, John Otto and Trent Ashby make up the 2015 budget conference committee.
Sens. Lois Kolkhorst, Juan "Chuy" Hinojosa, Jane Nelson, Charles Schwertner, Joan Huffman and Reps. Larry Gonzales, Sarah Davis, Sylvester Turner, John Otto and Trent Ashby make up the 2015 budget conference committee.

A Closer Look at Budget Conference Committee Members

The budget conference committee will hash out a compromise of the chamber’s respective 2016-17 budget plans. Committee members include two Democrats who rank as the most experienced budget negotiators on the panel.