Today the Senate Finance Committee approved its substitute for the Senate budget proposal (Senate Bill 1), the General Appropriations Act for 2018 and 2019. Total spending proposed for the next budget cycle in SB 1 is $217.7 billion, a 0.7 percent increase compared to the $216 billion in state and federal revenue budgeted for 2016-17. This means a real spending drop of almost eight percent, once population growth and inflation are taken into account. Total General Revenue spending would be $106.3 billion, which would be a 1.6 percent drop from 2016-17 even before any population or inflation adjustment.
If you’re a budget analyst like me, the summer before the Legislature meets is as exciting as watching a rodeo rider get ready for what’s always a wild ride. Even if you’re not a budget analyst, it’s worth paying attention to how and where Texas lawmakers decide to invest the state and federal money that […]