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Texas Legislature to Wrestle Over What to Do with Unexpected Budget Surplus
Yahoo! News ^ | January 7, 2013 | Mark Whittington

Posted on 01/08/2013 6:57:39 AM PST by rightwingintelligentsia

Bloomberg reports that when the Texas Legislature begins its 2013 session it will face a problem that most states will kill for. Texas will likely have a budget surplus of around $8 billion. The question arises, how to spend it?

How Texas arrived at a surplus

In 2011, when it looked as if Texas was facing a multi-billion-dollar budget deficit, the Texas Legislature cut spending, especially funding for education, Bloomberg notes. However, partly because of the fracking boom, revenues from the sale of oil and gas soared, bringing in unexpected tax revenues. The jobless rate also declined sharply, currently down to 6.2 percent. Revenue from sales taxes has increased as well. Steve LeBlanc, co-founder of CapRidge Partners LLC in Austin, is quoted as suggesting that Texas has the financial strength of Germany and the cost competitiveness of China.

Democrats: restore education cuts

Democrats in the Texas Legislature sense an opportunity to spend the surplus. The Burnt Orange Report, for example, reflecting Democratic thinking, suggests restoring some or all of the 2011 cuts that were enacted on education funding. Health care funding is another area Democrats are keen to increase.

(Excerpt) Read more at news.yahoo.com ...


TOPICS: Business/Economy; News/Current Events; US: Texas
KEYWORDS: surplus; texas
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Hat tip to Iowahawk, whose tweet linking this story reads: "Idiot slack-jawed anti-science Bible-beater hillbilly Texas legislature lowers taxes, end up with... $8 billion surplus."
1 posted on 01/08/2013 6:57:44 AM PST by rightwingintelligentsia
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To: rightwingintelligentsia

I am counting down the days until other States try to sue us for stealing their businesses and taxpayers.


2 posted on 01/08/2013 7:00:37 AM PST by mnehring
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To: rightwingintelligentsia

No Texas is not a good place to live. Nobody should move here, I am trying to leave...


3 posted on 01/08/2013 7:02:43 AM PST by Resolute Conservative
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To: rightwingintelligentsia

First, replenish the rainy day fund. Then we’ll talk.


4 posted on 01/08/2013 7:02:50 AM PST by jagusafr (the American Trinity (Liberty, In G0D We Trust, E Pluribus Unum))
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To: rightwingintelligentsia

Why don’t they spend more time in learning how to return it to the overburdened taxpayers , or in how to save it, instead of how to spend it.


5 posted on 01/08/2013 7:03:25 AM PST by Venturer
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To: rightwingintelligentsia

Funny...

Texas being a revenue negative state, meaing this state gives MORE tax dollars to the Feds that what it gets back in highway funds, education dollars, etc etc etc...

And all the media and liberal idiots want to do is spend a surplus...Even some of the republicans in the state house want to spend it...

I kinda think this is a lot of BS anyway...the Texas Legislature had an influx of Tea Party rookies taking up space in Austin this time...I’m thinking it is not going to go the way that this article and some of those liberals want it to go...

Now if we can just get rid of Joe Strauss from the speakership...That would go a long way to lessen the nonsense this session...

Just my opinion...


6 posted on 01/08/2013 7:04:15 AM PST by stevie_d_64 (It's not the color of one's skin that offends people...it's how thin it is.)
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To: Resolute Conservative

You guys are convincing me. I may not move there myself.


7 posted on 01/08/2013 7:04:34 AM PST by Lazamataz (LAZ'S LAW: As an argument with liberals goes on, the probability of being called racist approaches 1)
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To: rightwingintelligentsia

Give it back, assholes!


8 posted on 01/08/2013 7:05:08 AM PST by Texas Eagle (If it wasn't for double-standards, Liberals would have no standards at all -- Te?xas Eagle)
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To: Resolute Conservative

sarcasm will get you everywhere!!! hehe


9 posted on 01/08/2013 7:05:41 AM PST by stevie_d_64 (It's not the color of one's skin that offends people...it's how thin it is.)
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To: rightwingintelligentsia

Better return it or spend it before it is confiscated to bail out states like California. I would like to see them lower or eliminate the tolls on our growing number of toll roads and use up the surplus.


10 posted on 01/08/2013 7:06:12 AM PST by ConservaTexan (February 6, 1911)
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To: rightwingintelligentsia
Democrats in the Texas Legislature sense an opportunity to spend the surplus.

Who runs the Texas Legislature? RATS or Pukes?

11 posted on 01/08/2013 7:06:31 AM PST by Texas Eagle (If it wasn't for double-standards, Liberals would have no standards at all -- Te?xas Eagle)
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To: Venturer

Big time. If they have a $8 billion surplus it means that they took in $8 billion too much.

It’s not their money.


12 posted on 01/08/2013 7:08:58 AM PST by Texas resident (The idiots run the show now)
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To: Lazamataz

BEE ESS!!!

I saw you scoping out that beachside property down in Corpus a while back!!! hehehe


13 posted on 01/08/2013 7:09:55 AM PST by stevie_d_64 (It's not the color of one's skin that offends people...it's how thin it is.)
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To: jagusafr

Here in Ohio, Ted Strickland’s governance (meaning looting and pillaging) left with only 89Cents in the Rainy day fund. John Kasich now has $482million stashed away.

Also, if only the Federal Government could corral specific taxes to specific tasks, instead of the general fund.....
Thus-

12/08/2012
Ohio Supreme Court rules CAT revenue from fuel sales must be used for highways
$140 million more annually for highways
Commercial Activity Tax revenue collected from the sale of motor fuels must be spent for highway-related purposes and not diverted to the state’s general fund, the Ohio Supreme Court ruled Friday.

The high court’s 6-1 decision could make an additional $140 million available per year for the Ohio Department of Transportation’s highway construction program, which currently amounts to about $1.5 billion annually......


14 posted on 01/08/2013 7:11:54 AM PST by griswold3 (Big Government does not tolerate rivals.)
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To: stevie_d_64

Shh.


15 posted on 01/08/2013 7:12:19 AM PST by Lazamataz (LAZ'S LAW: As an argument with liberals goes on, the probability of being called racist approaches 1)
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To: Venturer

“Why don’t they spend more time in learning how to return it to the overburdened taxpayers , or in how to save it, instead of how to spend it.”

We do need to save it. We will need it to help fund our army when we finally secede.

In reality, the legislature is preparing for a big battle over many issues with the fed. And, we needed to cut some education spending anyway. We do need to shift some money over to the criminal justice system, and increase spending on border security since the fed gives us very little assistance there.


16 posted on 01/08/2013 7:15:08 AM PST by eastexsteve
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To: Resolute Conservative

I would never want to live there. ;)


17 posted on 01/08/2013 7:17:35 AM PST by bmwcyle (We have gone over the cliff and we are about to hit the bottom)
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To: rightwingintelligentsia

What to do with unexpected surplus?

Buy Illinois. PUHHHHHlease, buy Illinois, quick, before we turn into California. Or Greece. Or Albania. . .


18 posted on 01/08/2013 7:20:38 AM PST by Stosh
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To: rightwingintelligentsia
Democrats: restore education cuts

And by "restore cuts", they mean restore the budgeted, higher rate of increase.

19 posted on 01/08/2013 7:23:26 AM PST by Opinionated Blowhard ("When the people find they can vote themselves money, that will herald the end of the republic.")
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To: Resolute Conservative

You’re right—living here really sucks.

Don’t nobody move down here—it’s really awful........


20 posted on 01/08/2013 7:26:54 AM PST by basil (Second Amendment Sisters.org)
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To: rightwingintelligentsia

I pray Texas spends the surplus on reforming curriculum, educating in classical terms as well as computer applications, and then saves billions for the coming hand to hand combat in the courts and against the tyrants on the ground.

We’re going to need it, if we aren’t going to secede. The administration intends to break Texas.


21 posted on 01/08/2013 7:29:00 AM PST by RitaOK ( VIVA CHRISTO REY / Public education is the farm team for more Marxists coming.)
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To: rightwingintelligentsia

Texas State Budget Surplus bump


22 posted on 01/08/2013 7:33:34 AM PST by Liberty Valance (Keep a simple manner for a happy life :o)
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To: Lazamataz

I am also seriously considering not moving there.


23 posted on 01/08/2013 7:38:01 AM PST by LivingNet
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To: rightwingintelligentsia

1. Give it back to the folks who paid it in. Best option.
2. Dump it into interests bearing instruments and use it to generate revenue for the future.

Whatever they do, they don’t need to spend it or build stuff that will require MORE money to maintain in future.


24 posted on 01/08/2013 7:39:27 AM PST by Little Ray (Waiting for the return of the Gods of the Copybook Headings.)
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To: rightwingintelligentsia

Perhaps the bumbling fools in CA, IL, and NY could take a hint.


25 posted on 01/08/2013 7:40:24 AM PST by Neoliberalnot (Marxism works well only with the uneducated and the unarmed.)
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To: rightwingintelligentsia

Maybe the Texas Legislature could divvy up the surplus, and send it back to the legal residents; same as Governor Sarah Palin did in Alaska.


26 posted on 01/08/2013 7:41:45 AM PST by getmeouttaPalmBeachCounty_FL (Impeach the Liar.)
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To: rightwingintelligentsia

The answer is easy - give it back to the taxpayers.


27 posted on 01/08/2013 7:43:35 AM PST by meyer (Proud member of the 53%.)
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To: Venturer

They could start by eliminating or lowering that stupid Franchise tax. Even if you don’t owe anything it’s still a pain to file the paperwork.


28 posted on 01/08/2013 7:44:49 AM PST by smokingfrog ( sleep with one eye open (<o> ---)
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To: rightwingintelligentsia

Or maybe we could start building a real fence along the border with Mexico?


29 posted on 01/08/2013 7:46:53 AM PST by getmeouttaPalmBeachCounty_FL (Impeach the Liar.)
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To: LivingNet

I wouldn’t. I hear tell that it’s very liberal, no guns, everyone is so dependent, the chicks are ugly, and it’s always snowing.


30 posted on 01/08/2013 7:47:35 AM PST by Lazamataz (LAZ'S LAW: As an argument with liberals goes on, the probability of being called racist approaches 1)
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To: basil
Don’t nobody move down here—it’s really awful........

It's really getting bad here in Irving. There are so many Lance Armstrong wannabes trying to turn the lovely Campion Trails into a velodrome.

I guarantee you, there'll be hundreds, maybe thousands, shouting "on the left!" when warmer weather arrives in the spring.

31 posted on 01/08/2013 7:47:39 AM PST by Night Hides Not (The Tea Party was the earthquake, and Chick Fil A the tsunami...100's of aftershocks to come.)
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To: Lazamataz
I hear tell that it’s very liberal, no guns, everyone is so dependent, the chicks are ugly, and it’s always snowing.

Truth be told, those are the characteristics of Austin, Dallas, Houston, San Antonio and El Paso...the big cities under Democrat control.

Suburbs are wonderful, thanks to conservative leadership.

32 posted on 01/08/2013 7:50:49 AM PST by Night Hides Not (The Tea Party was the earthquake, and Chick Fil A the tsunami...100's of aftershocks to come.)
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To: rightwingintelligentsia

Put it in the rainy day fund to help buy our way out of tyranny. Secession. Liberty or death.


33 posted on 01/08/2013 8:04:54 AM PST by grumpa
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To: jagusafr

Would that buy a pretty nice fence?


34 posted on 01/08/2013 8:23:02 AM PST by jospehm20
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To: rightwingintelligentsia

There should be no wrestling over this money. It belongs to the people who paid it. If the budget is funded-— GIVE IT BACK!!


35 posted on 01/08/2013 8:30:34 AM PST by NCLaw441
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To: Lazamataz
“I wouldn’t. I hear tell that it’s very liberal, no guns, everyone is so dependent, the chicks are ugly, and it’s always snowing.”

1. Very liberal - yes, it is. I don't know how our two senators in the US senate, are Republicans - one being a Tea Party favorite. Also, I don't know how every state office holder is a Republican and both house and senate have Republican majorities.

2. No guns - that's true. I don't know how concealed carry ever happened here and how the state has more private supplied bunkers than any other state. I'm so worried about no guns being here, that I'm buying a Ruger 10/22 rifle and hollow point bullets for it and a 25 bullet magazine to add to my “arsenal” and all that takes is filling out a few forms and walking out with that rifle. I also don't know how a law was passed permitting citizens to use deadly force to protect themselves and their property.

3. Everyone so dependent - Right, we are so dependent there is no way we have a large budget surplus instead of going bankrupt. Normally, a surplus means a healthy economy with consumers able to purchase goods because they work and there are jobs to be had. We are a right to work state so unions are neutralized. It's a pity we are so dependent.

4. Chicks are ugly - ugly is in the eye of the beholder so I'll pass on this one.

5. Always snowing - true, yesterday the sun was shining and the temp. was in the 60s, a beautiful day. An ice storm and snow was sure to fall, but it didn't. I don't know why “snow birds” from the north are on our interstate highways heading south every year. They must be nuts to want our sunshine and moderate temps. in the winter.

Thanks so much for pointing out our disastrous situation in Texas. It would be much better to live in New York City or Chicago or Detroit. Those places allow a person to have as many guns as they want and they have balmy weather all year round.

36 posted on 01/08/2013 8:40:25 AM PST by Marcella (Prepping can save your life today. Going Galt is freedom.)
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To: Marcella

It’s very important for liberals to realize that Texas, spelled backwords, is Hell.


37 posted on 01/08/2013 8:51:43 AM PST by Lazamataz (LAZ'S LAW: As an argument with liberals goes on, the probability of being called racist approaches 1)
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To: rightwingintelligentsia

The State of Indiana gave us the money back.


38 posted on 01/08/2013 9:03:23 AM PST by Azeem (There are four boxes to be used in the defense of liberty: soap, ballot, jury and ammo.)
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To: Lazamataz
“It’s very important for liberals to realize that Texas, spelled backwords, is Hell.”

How very astute you are - I had not realized Texas backward spells Hell. If I didn't live here feeling secure in my life and possessions, I wouldn't.

39 posted on 01/08/2013 9:08:05 AM PST by Marcella (Prepping can save your life today. Going Galt is freedom.)
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To: rightwingintelligentsia

Having grown up in Texas, I was used to local and state officials who were planning and thinking far into the future. The Texas Permanent School Fund was established in 1854 with $2 million. The oil boom in the 30s enhanced that fund and is currently valued at $22 billion.

We had highways built large enough to handle traffic for future needs. When lakes were expanded, they were designed to provide water for the next 100 years.

Now having lived in several other states, I can appreciate such planning in its absence. Seeing land condemned for roads and no construction for 30 years until finally inadequate roads were built at much higher cost was a discouraging example of how things were done in North Carolina. Other tax money was squandered on “feel-good” projects that were virtually worthless and graft and corruption absorbed a lot of taxpayers’ hard earned dollars.

Responsible governments may be going the way of the buggy whip, but it is good to know that it can be done.


40 posted on 01/08/2013 9:09:31 AM PST by DeFault User
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To: rightwingintelligentsia

Umm... Don’t you send the surplus back to the taxpaying people who overpaid and then cut taxes?
Friggin’ duh.


41 posted on 01/08/2013 9:11:29 AM PST by Lancey Howard
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To: Lazamataz
It’s very important for liberals to realize that Texas, spelled backwords, is Hell.

LOL. I was sure there was a "hell, texas", but Googlemaps didn't find one.

Damn yankees can stay where they are, unless they want to go to Austin and pick up a few to take back home with them.

Conservative yankees have a provisional pass until they can say "y'all" more than once in a sentence.

42 posted on 01/08/2013 9:13:29 AM PST by zeugma (Those of us who work for a living are outnumbered by those who vote for a living.)
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To: zeugma

Buy a dozen fire fighting planes and lease them out when other states need them.

Put the rest away for a rainy day. And audit the fund every year to make sure the money wasn’t lent out or taken for projects.


43 posted on 01/08/2013 10:10:35 AM PST by EQAndyBuzz (Want freedom? Think WWRRD? Then do it.)
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To: rightwingintelligentsia
However, partly because of the fracking boom, revenues from the sale of oil and gas soared, bringing in unexpected tax revenues. The jobless rate also declined sharply, currently down to 6.2 percent. Revenue from sales taxes has increased as well.

Now if only Gov. Cuomo of New York would learn something from that paragraph - as well as any Governor holding up fracking because of the enviro-wackos.

You'd think it would be SO painfully obvious that even those politicians could see the benefits. Ah, perchance to dream.

44 posted on 01/08/2013 10:50:50 AM PST by Oatka (This is America. Assimilate or evaporate.)
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To: stevie_d_64

Yeah, Strauss has got to go.


45 posted on 01/08/2013 10:54:43 AM PST by TADSLOS (I took extra credit at the School of Hard Knocks)
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To: jagusafr

Well for damn sure don’t waste it on education. They absolutely raised hell over the coming disaster when funding was reduced predicting all kinds of disaster.... nothing bad happened.

Education seems to be a waste of money in this country anyway.

You can bet every special interest hog will have their face in the trough though complete with all manner of scum sucking lawyers and lobbyists.

IT WILL BE WASTED no matter what.

Oh, and never mind that every new road in the state is a toll road and gee whiz, guess what? They are all built in record time. The new 13 miles of 99 is going like wildfire. It’ll be built in less time than it takes to fix a water leak on Memorial.


46 posted on 01/08/2013 11:36:08 AM PST by Sequoyah101
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To: rightwingintelligentsia

Here’s a question: Can anyone point to a single child who has suffered a loss as a result of the education cuts.


47 posted on 01/08/2013 11:43:25 AM PST by Labyrinthos
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To: rightwingintelligentsia

Actually, I’ve lived in Texas since ‘73 and can’t wait to get out. Whatever you do don’t move to Texas, you’ll regret it. Just stay away, you’ll thank me later.


48 posted on 01/08/2013 12:51:11 PM PST by slouper
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To: rightwingintelligentsia

Actually, I’ve lived in Texas since ‘73 and can’t wait to get out. Whatever you do don’t move to Texas, you’ll regret it. Just stay away, you’ll thank me later.


49 posted on 01/08/2013 12:51:28 PM PST by slouper
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To: slouper

oops, sorry, double post.


50 posted on 01/08/2013 12:54:36 PM PST by slouper
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