Today, the Texas Senate passed SB 1, which is the state government’s budget for the upcoming 2018-19 biennium. With the SB 1 amounts of $145.2 billion in state funds and $217.8 billion in all funds, they are below the Conservative Texas Budget (CTB) limits of $147.5 billion in state funds and $218.5 billion in all funds. The CTB limits are based on an increase in population growth plus inflation of 4.5 percent above 2016-17 appropriations. The Foundation’s Center for Fiscal Policy Director Talmadge Heflin issued the following statement:
“We commend the Texas Senate for passing a budget that meets the needs of Texans while restraining the increase in government appropriations to below population growth plus inflation,” said Mr. Heflin. “By practicing fiscal restraint and not dipping in the state’s savings account, we are optimistic that taxpayers can benefit from passage of the second consecutive conservative budget.”
The Texas Public Policy Foundation is a non-profit free-market research institute based in Austin.