Texas Politics – May 2011

House Bill 1, the General Appropriations Act – was passed out of committee without action on Article three. This is the education part of our state’s budget. Discussions continue on funding for education in Texas. Susan Combs, Comptroller, did bring good news on the state’s budget forecast. Revenues will be up considerably.

“Maintaining a cautious outlook for the next biennium, my office estimates sales tax, oil production tax and motor vehicle sales tax will bring in more revenue than previously estimated in the next biennium.”

Sales Taxes in Texas have risen since January, and the rising price of oil has certainly helped matters. This report is good news for Texas’ economic future and for budget creation this year.

There is still a considerable gap in funding public education between House and Senate versions of this bill. Talks about Article three continue and will determine whether a special session will be needed to finalize our budget.