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(Texas) State has extra $1.5 billion left over from last year
AP via Houston Chronicle ^
| Oct. 10, 2007, 7:09AM
| AP (no byline)
Posted on 10/10/2007 10:18:38 AM PDT by weegee
AUSTIN When Texas accountants closed the books on the 2007 budget period, the state had an unexpected $1.5 billion in unspent money, Comptroller Susan Combs told lawmakers Tuesday.
The ending balance for the 2007 fiscal year, which closed Aug. 31, was $8.5 billion, up from the $7 billion expected when Combs earlier this year set her biennial revenue estimate.
Most of the money can't be spent until lawmakers meet again and adopt spending legislation.
"The increase was brought about by greater revenues, attributable to strong state economic growth, and lower expenditures, attributable to legislative and agency spending restraint," Combs said.
TOPICS: Extended News; Government; News/Current Events; US: Texas
KEYWORDS: goodhair; overtaxed; taxandspend; texas
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No talk of GIVING IT BACK to the taxpayers. We got overcharged and now it will be used to establish a higher minimum budget.
1
posted on
10/10/2007 10:18:46 AM PDT
by
weegee
To: weegee
If this were to happen in MA, they’d probably rush through a tax increase so that we could hire more people to watch over the money and make sure it gets spent.
2
posted on
10/10/2007 10:21:16 AM PDT
by
ClearCase_guy
(The broken wall, the burning roof and tower. And Agamemnon dead.)
To: weegee
Most of the money can't be spent until lawmakers meet again and adopt spending legislation. GIVE IT BACK! Obviously, the state didn't NEED it!
3
posted on
10/10/2007 10:21:26 AM PDT
by
TexasRedeye
(Eschew obfuscation)
To: weegee
My dentist over charged me for my last visit. When he closed his quartely books I got a check in the mail
I'm not holding my breath for the folks up in Austin to do the same ...
4
posted on
10/10/2007 10:23:37 AM PDT
by
tx_eggman
("Believing without loving turns the best of creeds into a weapon of oppression" Eugene Peterson)
To: weegee
Alaska is still in the black and will be for another couple of years. Also, BP has had another fire and 30,000 barrels a day had to be shut off. Again.
About two years from now Alaska will have to consider the income tax or shut down the State. Guess which?
5
posted on
10/10/2007 10:23:50 AM PDT
by
RightWhale
(50 years later we're still sitting on the ground)
To: weegee
“The increase was brought about by greater revenues, attributable to strong state economic growth, and lower expenditures, attributable to legislative and agency spending restraint,” Combs said.
Sadly, I suspect you are right.
No mention either of future ‘taxation restraint’...God help us when these boneheads get back to Austin and start their spending spree.
To: TexasRedeye
How about spending it on roads that Gov Goodhair's TXDOT say we can't afford.
7
posted on
10/10/2007 10:25:22 AM PDT
by
Hydroshock
("The Constitution should be taken like mountain whiskey -- undiluted and untaxed." - Sam Ervin)
To: weegee
Here in Oregon we have a constitutional provision called "The Kicker Check" that does give back excess taxes. In fact we are getting one this year.
http://www.oregon.gov/DOR/PERTAX/faq-kicker.shtml
Of course they try to repeal it every chance they get though.
8
posted on
10/10/2007 10:25:33 AM PDT
by
rednesss
(Fred Thompson - 2008)
To: weegee; Peanut Gallery; Wneighbor
We need more toll roads to fill the gap!
To: weegee
I think that it is great that in Texas any budget surplus automatically goes into the state’s economic stabilization fund (their version of a rainy day fund). Adding $1.5 billion to the fund will put it at near the highest level ever.
10
posted on
10/10/2007 10:28:31 AM PDT
by
Between the Lines
(I am very cognizant of my fallibility, sinfulness, and other limitations.)
To: weegee
In Friendswood, Texas a new city councilmen was elected who decided to look at the city's books. He discovered that the city had a lot of unspent cash and eventually they gave it back to the taxpayers. A tax refund! The city councilman is a CPA (who supports the Fair Tax) and is currently running against Ron Paul for Paul's Congressional seat:
Chris Peden for Congress
If you want to drive the Ron Paul people crazy send money to this guy....
11
posted on
10/10/2007 10:31:52 AM PDT
by
isthisnickcool
(Tagline:(Optional, printed after your name on post0:)
To: weegee
I was pleased to see in the Chronicle’s comment section that most people said “Send it back to the people” with only a few wanting to run off and spend it on their favorite programs.
12
posted on
10/10/2007 10:33:54 AM PDT
by
KarlInOhio
(May the heirs of Charles Martel and Jan Sobieski rise up again to defend Europe.)
To: isthisnickcool
How nice to hear good news from your front in the war!! Hold the line!! And my best to Chris Peden!
To: Between the Lines
They need to put the money back that they stole from road construction.
To: Between the Lines
Expect the rainy day to happen in NOLA again and the funding to go to Houston again.
15
posted on
10/10/2007 10:39:51 AM PDT
by
weegee
(NO THIRD TERM. America does not need another unconstitutional Clinton co-presidency.)
To: weegee
To: Sioux-san
Send it to Michigan!Piling it up and burning it would likely do less damage...
17
posted on
10/10/2007 10:51:47 AM PDT
by
Onelifetogive
(* Sarcasm tag ALWAYS required. For some FReepers, sarcasm can NEVER be obvious enough.)
To: weegee
There was a surplus of a couple billion dollars in Virginia a couple years ago. I didn’t get a dime, and I have no idea how that money got wasted.
Unbelievable that there’s a $640 million shortfall this year.
To: Sioux-san
Michigan should sue Texas for having more then they have.
And not being fiscally responsible in their spending.
19
posted on
10/10/2007 10:58:49 AM PDT
by
MaxMax
(God Bless America)
To: ClearCase_guy
"If this were to happen in MA, theyd probably rush through a tax increase so that we could hire more people to watch over the money and make sure it gets spent."That is what they actually did in Tennessee this year. Added $.50/pack cigarette tax (I think it was 50 cents, I don't smoke any more)
20
posted on
10/10/2007 11:01:01 AM PDT
by
Grammy
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