Today Governor Perry announced his Texas Budget Compact in the shadow of the out of control federal spending on Tax Day. His message was a pledge for fiscal responsibility and a reminder of what is right about the Texas economy.
The Governor outlined the following 5 principles as "a vow to the people of Texas":
- Truth in budgeting
- Support a stricter Constitutional limit on spending
- Oppose any and all new tax increases
- Preserve the Rainy Day Fund
- Cut wasteful and redundant government programs and agencies
After stating that "we need to stop writing IOU's to the next budget", Perry expanded on principle number 1:
"We need to reduce the use of fees and dedicated accounts for anything other than the purpose of which they were sold to the public. If we are not going to use it for the purpose for which it was dedicated, we need to quit collecting it."
The Governor then went on to say, "By keeping this tight reign on spending, we can build a more solid and predictable economy." His support for a stricter Constitutional limit on spending was because “we want to be sure, constitutionally sure, that Texas never turns into Washington D.C.”
Perry, besides opposing “any and all new tax increases”, supports making the Small Business Tax Exemption ($1M) permanent, says that the Rainy Day Fund should never be used for budget items and “we always need to look first at how to cut our expenses”.
Governor Perry’s plan could keep the Texas economy growing. If business leaders have confidence in the future, they will continue to invest their capital dollars here in Texas. Texas voters need to consider whether or not their candidates sign the Governor’s Budget Compact.
Which "wasteful and redundant government programs" should get cut first?