Initial budget proposals from Texas lawmakers exceed spending limit by $7B
In their first attempts at crafting a state budget amid the coronavirus pandemic, legislative leaders have proposed minimal cuts to general revenue spending, postponing possible tough choices on where to rein in spending. But the House and Senate drafts of the budget are more closely aligned than in prior legislative sessions.
The proposals, released Thursday, would both spend about $119.7 billion in general revenue over the next two years — roughly $7 billion more than Comptroller Glenn Hegar said lawmakers would be able to allocate.
Earlier this month, Hegar estimated that the state would generate $112.5 billion in general revenue over the next two years, a 0.4% decrease from the previous biennium, as the state's economy recovers from pandemic losses.
The proposals are a starting point for lawmakers, who are also responsible for allocating some federal dollars that flow to the state and overseeing dedicated revenue streams that must go toward specific programs or initiatives.
Read more: https://www.reporternews.com/story/news/politics/2021/01/23/texas-house-senate-budget-proposals-exceed-spending-limit-billions/6663473002/
(Abilene Reporter-News)