* Between the 2008-09 and 2014-15 biennia, economic growth and job creation contributed to a 28% increase in sales tax revenue and a 25% rise in total tax revenue. Initial estimates in the Legislative Budget Board’s Fiscal Size-Up 2014-15 show a potential $2.6 billion surplus for the 2014-15 biennium.
* The Texas Comptroller projects that the ESF will be roughly $8.1 billion by the end of fiscal 2015. Rising oil production across the state means it is likely the ESF balance will reach its cap in coming years.
* By including taxpayers as a funding constituent, more revenue from a booming economy and energy sector makes spending restraint and tax relief high priorities.
* Legislators should create the STaR Fund to provide a mechanism to temporarily reduce the state sales tax rate for all Texans.
* By shifting dollars that were earmarked for spending into the STaR Fund, legislators can reduce the bottom line of the budget and let taxpayers keep more of their money.