The state's top elected officials say the two year state budget, which expires at the end of this month, fully met their pledge not to increase spending beyond the combination of inflation and the state's population growth, News Radio 1200 WOAI reports.
“Texans entrust their elected officials to be good stewards of taxpayer dollars and to instill financial discipline into state budgets. This report shows our commitment to that charge," Gov. Abbott said. "Since I took office, Texas spending, when adjusted for Hurricane Harvey relief and property tax reduction, has been constrained to well below population plus inflation. This adherence to fiscal conservatism has not only ensured a healthy rainy day fund, but it has also contributed to Texas’ explosive economic growth and record low unemployment. As Governor, I will continue to preside over budgets that put Texas taxpayers first.”
The state's growing population has meant additional needs for state spending, especially on highways and infrastructure. But Abbott, Lieutenant Governor Dan Patrick, and House Speaker Dennis Bonnen says holding overall spending to population growth plus inflation is a prudent guide for cutting the growth of taxes.
Abbott says the new bienneial budget, which takes effect October 1 and runs through September of 2021, will more than meet the goal, with spending increases of just 1.4% per year, when the limits on the growth of local property taxes which were approved by the 2019 regular session of the Legislature, are factored in.