Texas Budget Compact, Pt. 2: Spending Limit
Keeping a tight rein on spending means fostering a solid, predictable economy, and a state government that doesn't put off tough decisions until they create major complications.
That's why we need to constitutionally limit the growth of any increase in state spending to the growth of our population, combined with the rate of inflation.
Currently, any increase in spending is limited by growth in personal income, which is a much more fluid and generally larger number than the one the Compact proposes.
By taking this step, we can make constitutionally sure that Texas never spends as freely as Washington, D.C.
Gov. Perry is pledging his commitment to the following principles, and asking lawmakers to do the same:
The five simple yet effective principles of the Texas Budget Compact:
• Practice Truth in Budgeting
» Support a Constitutional limit of spending to the growth of population and inflation
• Oppose any new taxes or tax increases, and make the small business tax exemption permanent
• Preserve a strong Rainy Day Fund
• Cut unnecessary and duplicative government programs and agencies