"We are keeping our state strong and prosperous with a budget that is below the state’s spending limit. We are removing barriers to job growth to unleash the power of entrepreneurs and innovators. And we are securing Texans’ freedom to aspire." - Governor Greg Abbott, Dallas Morning News, June 4, 2015.
Fiscally Conservative Budget: Republicans in the Texas House fought to keep Texas on strong fiscal ground in 2015 by passing a state budget that keeps spending growth beneath 2 percent per year, stays well below the constitutional spending cap and left more than $10 billion in the state’s Rainy Day Fund. In addition to the money left in the Rainy Day Fund, House Republicans made certain that nearly $5 billion in General Revenue was unspent, which will help legislators respond to economic conditions in the future.
Budget Transparency: House Republicans ended diversions of the gas tax in the budget and for the first time in decades, all of the money in the State Highway Fund will be used for transportation instead of getting diverted to other programs. In the 84th Legislative Session, the House also passed House Bill 6 and House Bill 7, which will reduce the use of accounting gimmicks in the state budget and ensure that fees are either eliminated or revenue is used for its intended purpose.
Reducing Taxes: During the 2015 legislative session, House Republicans approved nearly $4 billion in tax relief for the citizens of Texas: a 25 percent reduction in the state's business margins tax, as well as a $10,000 increase in the homestead exemption providing needed relief for rising property taxes.