News from around the state of Texas

Texas State Spending Cap Set at $77.9 Billion for 2014-15

Leaders expect the budget to be less than the cap

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    TK
    flickr/tex1sam

    The Texas Legislative Budget Board has set a $77.9 billion cap on state spending in the 2014-15 budget year, a 10 percent increase.

    But Republican leaders said Thursday that the actual state budget will be less.

    The Legislative Budget Board writes the first draft of the state budget every two years, and then lawmakers haggle over changes during the legislative session, which begins in January. The spending cap is based on the economic forecasts of state revenues over the next two years.

    During last year's session, state lawmakers had to cut $15 billion in state spending. The Republican-led Legislature cut $5.4 billion in school funding and shorted health programs for the poor and disabled by $4.7 billion.

    Gov. Rick Perry has said he wants to limit state spending.