House Speaker Joe Straus: It's time for the Legislature to tap the rainy day fund
Of all the decisions that the Texas Legislature will make this year, none may be more important than this: How do we manage the state's resources in a way that is prudent, responsible and supportive of economic growth?
Over the last two years, state sales tax collections have come in weaker than expected. Meanwhile, Texas has continued to grow as fast as almost any other state, key facilities are in disrepair, and we have committed to spending hundreds of millions of dollars more to protect children from abuse. Add it all up and the state of Texas faces a multi-billion-dollar budget shortfall.
The Texas House Appropriations Committee is working diligently to close this shortfall. To be clear, tax increases are not on the table. The committee is making meaningful spending reductions in health care, education, government contracts and economic incentive programs. Texas will continue to have one of the lowest per-capita spending rates in the country.
But should we balance the budget with spending reductions alone?
If we pursue a cuts-only approach, there will be no new per-student resources for public education. The burden for funding education will shift further toward local property taxes. The Legislature will also make deep cuts in higher education, research and student financial aid. For example, the cuts-only budget proposed earlier this year in the Texas Senate threatens to wipe out a $90 million funding stream for the University of Texas Southwestern Medical Center in Dallas. State funding for Texas A&M-San Antonio would be cut in half under that same plan. Other universities are talking about canceling hundreds of classes.
Read more: http://www.dallasnews.com/opinion/commentary/2017/03/15/joe-straus-time-legislature-tap-rainy-day-fund
[font color=330099]Straus is the only Republican in leadership that shows any sanity in his approach towards many of the issues facing the state.[/font]