State Agencies Ordered to Cut Budgets Next Year by 10 Percent Even as Billion Dollar Windfall Looms

The U.S. Supreme Court is seen behind trees after it ruled that states may collect sales tax from retailers that do not have a physical presence, on June 21, 2018 in Washington, DC.Texas state agencies were ordered Friday to cut 10 percent from their budgets next year, just a day after the U.S. Supreme Court issued a ruling that may result in an unexpected billion dollar windfall in state revenue. The governor’s budget director and the Legislative Budget Board—made up of statewide elected officials to oversee the state’s $217 billion budget—directed state agencies to prepare supplemental budgets that reflect the cuts in 2.5 percent increments. “While the state’s economic landscape is positive and a balance is projected to accrue in the treasury, agencies are directed to be vigilant in their spending and continue to be responsible stewards of state resources,” the agencies were told. The comes as state officials determine the impact of a major reversal…View Original Post

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[source: https://www.texasmonthly.com/news/state-agencies-ordered-cut-budgets-next-year-10-percent-even-billion-dollar-windfall-looms/]

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