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In a room packed with members of the Plano Chamber of Commerce and more than a few sitting or would-be state legislators, Gov. Rick Perry set the parameters for crafting the next state budget by presenting what he called the five simple tenets to his Texas Budget Compact.
Those principles – truth in budgeting, a Constitutional limit on spending tied to population growth and inflation, rejecting new taxes or increases and making the small business tax exemption permanent, preserving a strong Rainy Day fund, and cutting unnecessary or duplicative programs and agencies – will help assure that Texas remains atop the other states in job creation and other economic categories, Perry said.
He paused at one point and directed a comment at new Plano Schools Superintendent Richard Matkin, whose background is in accounting. “Superintendent, if you did your budgeting like the Texas Legislature did in recent years, you’d be in trouble,” the governor said.
Matkin quickly assured him he wouldn't.
Perry underscored that with the business crowd – how revenue and income determine how they operate, and how they live.
It has to be the same with the state, Perry said.
“As we focus on the next Legislative session, we’re going to continue to be thoughtful in our budget process in Austin, Texas,” he said.
Truth in budgeting will give the state’s residents’ faith and trust in government. And to reinforce that, setting state budget limits based on population growth and inflation rather than on personal income is crucial, Perry said.
So is making the small business tax exemption permanent, he said. “Why should [small business owners] have to come to Austin every two years and beg for it?” Perry asked.
With those kinds of guarantees in place, Texas can continue as a leader in job creation, the governor said. But the future also rests on decisions in Washington, D.C. – notably Medicaid and President Obama’s health plan, “the ticking time bomb” for state spending, Perry said.
Those principles – truth in budgeting, a Constitutional limit on spending tied to population growth and inflation, rejecting new taxes or increases and making the small business tax exemption permanent, preserving a strong Rainy Day fund, and cutting unnecessary or duplicative programs and agencies – will help assure that Texas remains atop the other states in job creation and other economic categories, Perry said.
He paused at one point and directed a comment at new Plano Schools Superintendent Richard Matkin, whose background is in accounting. “Superintendent, if you did your budgeting like the Texas Legislature did in recent years, you’d be in trouble,” the governor said.
Matkin quickly assured him he wouldn't.
Perry underscored that with the business crowd – how revenue and income determine how they operate, and how they live.
It has to be the same with the state, Perry said.
“As we focus on the next Legislative session, we’re going to continue to be thoughtful in our budget process in Austin, Texas,” he said.
Truth in budgeting will give the state’s residents’ faith and trust in government. And to reinforce that, setting state budget limits based on population growth and inflation rather than on personal income is crucial, Perry said.
So is making the small business tax exemption permanent, he said. “Why should [small business owners] have to come to Austin every two years and beg for it?” Perry asked.
With those kinds of guarantees in place, Texas can continue as a leader in job creation, the governor said. But the future also rests on decisions in Washington, D.C. – notably Medicaid and President Obama’s health plan, “the ticking time bomb” for state spending, Perry said.
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