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CPPP Statement on 10% Budget Cut Instructions

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Author:
CPPP

June 7, 2006

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Some may be shocked that in less than a month's time, Texas has gone from having an $8 billion "surplus" to considering 10 percent almost-across-the-board cuts—about $3 billion in General Revenue. The reason is the huge gap between the spending side of what the Legislature approved in the special session ($23 billion more in state funds for K-12 from 2007 to 2009, most of it to pay for local property tax cuts) and what it raised in new revenue ($8.8 billion from 2007 to 2009). Filling the $14 billion hole dug in the special session entirely wipes out the so-called surplus and still requires finding another $6 billion.