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Texas Wonders What To Do With Budget Surplus
Posted at 11:45 a.m. on Feb. 25
Texas Comptroller Susan Combs announced last month that the state would have an $8.8 billion surplus, according to The Economist, but the extra funds have sparked a fight over what to do with the taxpayers’ money.
“Under Texas law, the state may not spend more than the comptroller expects it to have. The 2011 estimate…meant that the state was in effect facing a budget shortfall of more than $20 billion… Most of the shortfall was made up by deep cuts… So now the Democrats are arguing that the state can afford to be a lot more generous.”
“The state’s Republican leaders are apparently willing to spend more money this time round than last, and the state will probably allocate billions of dollars to much-needed infrastructure improvements… The Republicans seem less interested, though, in operational expenses such as school funding.”
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