The Texas budget just took its first step to passage. What does that mean for you?

Following three hours of debate on the Senate floor and work for just under 10 weeks on the budget, the Senate unanimously passed its first draft of the Texas budget Tuesday. The budget allots $213.69 billion total for fiscal years 2018-19 and 2019-20. Approximately $106.31 billion of this comes from the General Revenue fund, which is collected by-and-large from sales taxes, or in-state revenue. In January, Comptroller Glenn Hegar, Texas’ chief financial officer, declared there would only be $104.87 billion to spend in the next biennium from the General Revenue fund, due to slumps in oil and gas prices and a portion of […]

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Source: Community Impact- Round Rock