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 ...

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

Speaker Joe Straus on the floor of the Texas House on April 17, 2015.
Speaker Joe Straus on the floor of the Texas House on April 17, 2015.

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. 

 

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.

In January 2015, Texas Comptroller Glenn Hegar said that his revenue estimate to divvy up for the 2016-17 budget would be about $113 billion.
In January 2015, Texas Comptroller Glenn Hegar said that his revenue estimate to divvy up for the 2016-17 budget would be about $113 billion.

Analysis: For Legislators, an Extra Incentive to Finish State 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.

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.

Budget Panel Breakdown: Democrats Short on Slots, Long on Experience

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.