Texas: 2011 Budget Shortfall

[TheTrueCentrist]

texastribune.org/texas-taxes/2011-budget-shortfall/

“A budget shortfall as high as $25 billion is projected as lawmakers head into the 2011 legislative session, according to estimates from economists and the comptroller’s office. Texas writes budgets biennially, or in two-year terms, so the shortfall affects the 2012-2013 state budget.”

 

[Scott_Lafrance]

texastribune.org/texas-taxes/2011-budget-shortfall/

“A budget shortfall as high as $25 billion is projected as lawmakers head into the 2011 legislative session, according to estimates from economists and the comptroller’s office. Texas writes budgets biennially, or in two-year terms, so the shortfall affects the 2012-2013 state budget.”

The Texas Constitution requires that the Legislature budget for no more than the amount of revenue that the Comptroller certifies will be available. The requirement that Texas must balance its budgets is a major difference between state and federal budgeting, for Texas cannot run a defecit, while the national government clearly can.

The legislature of Texas will balance the budget. They are Constitutionally mandated to.

 

[Corki]

The legislature of Texas will balance the budget. They are Constitutionally mandated to.

And we have a legislature focused on fiscal conservatism which is a good make-up to have when faced with this kind of problem.