Submitted by Katherine Munal
AUSTIN —Governor Perry delivered his State of the State address Wednesday to a Joint Session of the Senate and House of Representatives. During that address, the Governor declared, “We’re in a position today to put our financial house in order, and it’s time to do so. We have an opportunity this Session, an opportunity to true up our budget and move away from the budgetary techniques we’ve come to depend on all too often […] We should put in place a stronger constitutional limit on spending growth, ensuring it never grows more than the combined rate of inflation and population.”
With that sentiment, Rep. Scott Sanford was proud to file his first piece of legislation, House Bill 783.
H.B. 783 will require Texas’ rate of growth of appropriations to be limited to a rate determined by adding the estimated rate of the increase or decrease of population and the estimated rate of inflation or deflation during the preceding biennium. The bill also stipulates that the Comptroller will issue any excess revenue as a rebate to each payer of the franchise tax.
“While listening to the Governor this morning, I realized it was time to file House Bill 783
and place a constitutional limit on the rate of Texas’ spending. Across our Nation, government
spending has become out of control and unsustainable. I will not allow this to happen in Texas.
We will continue to stand as a beacon of hope for companies looking for a stable business
environment and Americans looking for relief from heavy tax burdens. H.B. 783 will guarantee to Texans that our government will live within in its means and assure businesses that we support their growth,” stated Rep. Sanford.