AUSTIN – Today, the Texas Senate passed SB 9 that would change the statute limiting the rate of growth of appropriations to cover more of the budget, base the growth rate on population and inflation calculated with the average of past and projected data, and raise the threshold to exceed the limit to a three-fifths supermajority. The Foundation’s economist Dr. Vance Ginn made the following statement:
“The action taken today by the Texas Senate is a step in the right direction to more effectively restrain excessive growth in government by strengthening the state spending limit,” said Dr. Ginn. "By keeping growth in government spending to less than population growth and inflation, taxpayers will have more opportunities to prosper.”
For more information or to request an interview with Dr. Ginn, please contact Alicia Pierce at [email protected] or 512-472-2700.
Vance Ginn, Ph.D. is an economist with the Center for Fiscal Policy at Texas Public Policy Foundation.