How much did Texas receive from the federal government in 2014?
The table below notes what share of Texas’ general revenues came from the federal government in 2014. That year, Texas received approximately $38.6 billion in federal aid, 31.8 percent of the state's general revenues. Taking into consideration the state's 2014 population, this came out to about $1,434 in federal aid per capita.
What determines how much federal funding a state receive?
Federal funding also can vary due to each state’s specific circumstances. Military bases, national parks, federal offices and the occurrence of natural disasters all can help determine how much federal funding a state receives in any given period.
What is the average annual household income in Texas?
Between 2011 and 2013, residents in Texas had a median annual household income of $51,752, highest among neighboring states. The state also had the largest portion of residents that earned incomes above 400 percent of the federal poverty level in 2013.
What percentage of state budget comes from the federal government?
State Federal Dependency RankingRankStateFed Fund % of State Revenues41Massachusetts19.10%42Colorado15.85%43Utah15.74%44California16.92%47 more rows•Feb 10, 2022
Where does Texas budget come from?
The percentage breakdown for certain line items is: 34% will come from federal funds; 28% will be derived from sales taxes; 8% from licenses, fees, fines and penalties; 2.4% from cigarette, tobacco, and alcohol taxes; and 1.8% from the lottery.
How is Texas budget funded?
In Texas in fiscal year 2015, 88.9 percent of total tax revenues came from sales taxes and gross receipts. Texas does not collect an income tax. Education accounted for 37.5 percent of state expenditures in fiscal year 2015, while 30.6 percent went to Medicaid.
How is the state of Texas funded?
The state takes in over $250 billion a year in revenue coming from over 60 different taxes, fees and assessments. Most of that money goes out to pay for services and activities such as road construction, professional licensing, prisons and university research.
What is the second largest source of revenue for Texas state government?
What is the second-largest source of revenue for Texas state government? federal grants.
What is the third largest source of revenue for Texas state government?
Sources of state revenueSourceAmountPercent of Total (Federal Income Omitted)Sales tax$15,417,156,25838.4Vehicle sales/rental, mfg housing sales2,740,287,9586.8Motor fuels taxes2,917,706,8707.3Franchise tax1,835,013,9524.625 more rows
Where does most of the state revenue come from?
TaxesTaxes and federal funds together account for 80.5% of revenue for the 50 states. Taxes are the largest revenue source in 46 states, while federal funds are greatest in four: Alaska, Louisiana, Montana, and Wyoming.
Which is the single largest source of tax revenue for the state of Texas?
Sales tax revenueSales tax revenue is the state's single largest source of funding and feeds into the budget-writing process at the Texas Legislature, which is set to convene for a regular session in January.
How is the federal budget process different from that of Texas?
The first difference is that the Texas Legislature appropriates funds for two fiscal years, whereas the U.S. Congress appropriates for one fiscal year. The state fiscal year begins September 1, but the federal fiscal year begins October 1.
Where does Texas get most of its revenue?
The largest sources of state tax revenue are:sales taxes.the franchise tax (the state's primary business tax)motor vehicle-related taxes.taxes on crude oil and natural gas production.
What is the primary source of revenue for Texas counties?
property taxThe property tax, or ad valorem tax, is inarguably the largest revenue source for Texas counties.
What is the largest source of revenue for the state of Texas quizlet?
Sales tax is the largest money generator in Texas, however since 1989 texans are spending less. The more money we spend the more the state can spend. Second to sales tax, federal funding is the other source of highest revenue funding in TX. federal funding is the other source of highest revenue funding in TX.
How much did the Texas government spend in 2016?
Between fiscal years 2015 and 2016, total government spending in Texas increased by approximately $8.0 billion—from $119.3 billion in fiscal year 2015 to an estimated $127.3 billion in 2016. This represents a 6.7-percent increase.
How does the state budget work?
The state operates on a biennial budget cycle. The sequence of key events in the budget process is as follows: 1 Budget instructions are sent to state agencies beginning in June. 2 Agencies submit their budget requests to the governor between July and September. 3 Agency hearings are held between July and October. 4 The governor submits his or her proposed budget to the state legislature by the date of the State of the State address. 5 The legislature typically adopts a budget in May. A simple majority is required to pass a budget. The fiscal year begins in September.
What is state debt?
State debt refers to the money borrowed to make up for a deficit when revenues do not cover spending. The state credit rating is the grade given by a credit rating agency based on the general financial health of the state's government and economy. State funds include general and other state-based funds.
What is the Texas transparency score?
The report, entitled "Following the Money," measured how transparent and accountable state websites were with regard to state government spending. According to the report, Texas received a grade of A- and a numerical score of 93.5, indicating that Texas was "Leading" in terms of transparency regarding state spending.
What are the factors that influence the state budget?
State budget decisions are also influenced by policy decisions at the national level, such as the Affordable Care Act or energy and environmental regulations, and issues at the local level, such as crime and the quality of education.
How much federal aid did North Dakota receive in 2014?
By contrast, North Dakota received about $1.5 billion in federal aid in 2014, or just 17 percent of the state's general revenues, the lowest percentage in the nation. The table below notes what share of Texas’ general revenues came from the federal government in 2014.
How much did the state spend on property tax cuts?
Property tax cuts. After a proposal to raise the sales tax to pay for more sweeping property tax cuts failed at the Legislature, lawmakers opted to spend $5 billion in state funds on property tax cuts — well above the $2.7 billion they originally proposed.
How much will the $5 billion tax cut be in 2021?
Legislators say the $5 billion would lower tax rates by an average of 8 cents per $100 property valuation in 2020 and 13 cents in 2021. That would mean a tax cut of $200 for the owner of a $250,000 home in 2020 and $325 in 2021. Read more: The property tax reform package is heading to Gov. Greg Abbott's desk.
How much of a school district's funding goes toward pay raises for school employees?
Lawmakers mandated, however, that 30% of a school district’s additional funding go toward pay raises for school employees, with priority given to teachers with more than five years of experience. Read more: Texas House, Senate pass school finance bill mandating teacher raises and cutting taxes.
How much did the Senate cut from the health insurance program?
Lawmakers included in their final budget a proposal from the Senate to essentially cut $900 million from the federal-state health insurance program for the poor and disabled by ordering the state’s health commission to implement “cost containment.”.
How much did the Texas Health and Human Services Commission request?
Neither chamber came near the $389 million requested by the Texas Health and Human Services Commission and Gov. Greg Abbott to provide a 50-cent increase to the base wage for community attendants who care for the elderly and people with disabilities.
Is Hurricane Harvey recovery money included in the 2017 budget?
While Hurricane Harvey recovery funds for school districts and future disaster preparedness are big-ticket spending items this session, they are not included in this analysis because they are mostly included in a “supplemental” budget that pays for leftover expenses from the 2017 legislative session.
Will the 2020-21 budget touch the economic stabilization fund?
But lawmakers opted not to touch the Economic Stabilization Fund, the state’s savings account fed by oil and gas tax collections, in the 2020-21 budget.
Why are state budgets in trouble?
State budgets are in trouble due to COVID-19. Even wealthier states are facing steep budget cuts and will need to increasingly rely on federal funding to offset revenue shortfalls.
What percentage of New Mexico's workforce is employed by local, state or federal governments?
According to an analysis of U.S. Census data, 22.5% of New Mexico's workforce is employed by local, state or federal governments. In Alaska, that figure is 25%. Analysis of states by return on taxpayer investment reveals 18 states that send more money to the Federal Government than they receive.
What to do if your state receives more than it contributes?
If your state receives more than it contributes, you might examine the role the Federal Government plays in the day-to-day life of your state. Educate yourself, decide how you feel about how your state budgets and spends money and show your approval or disapproval at the polls when you vote.
Definitions
- The following terms are used to describe a state's finances: 1. Revenuescome mainly from tax collections, licensing fees, federal aid, and returns on investments. 2. Expendituresgenerally include spending on government salaries, infrastructure, education, public pensions, public assistance, corrections, Medicaid, and transportation. 3. State debtrefers to the money borrowe…
Revenues
- 2016 revenues
1. 1.1. See also: State government tax collections by source The table below breaks down state government tax collections by source in 2016 (comparable figures from surrounding states are also provided to give additional context). Figures for all columns except "2016 population" and "… - Federal aid to the state budget
1. 1.1. See also: Federal aid to state budgets State governments receive aid from the federal government to fund a variety of joint programs, mainly in the form of grants for such things as Medicaid, education, and transportation. In 2014, federal aid to the states accounted for roughly …
Spending
- Estimated 2016 expenditures
1. 1.1. See also: Total state expenditures The table below breaks down estimated spending totals for fiscal year 2016 (comparable figures from surrounding states are included to provide additional context). Figures for all columns except "Population” and “Per capita spending" are re… - Spending by function
1. 1.1. See also: State spending by function as a percent of total expenditures State spending in Texas can be further broken down by function (elementary and secondary education, public assistance, etc.). Fiscal year 2015 information is included in the table below (information from n…
Budget Process
- The state operates on a biennial budget cycle. The sequence of key events in the budget process is as follows: 1. Budget instructions are sent to state agencies beginning in June. 2. Agencies submit their budget requests to the governor between July and September. 3. Agency hearings are held between July and October. 4. The governor submits his or ...
Budget and Finance Legislation
- The following is a list of recent budget and finance bills that have been introduced in or passed by the Texas state legislature. To learn more about each of these bills, click the bill title. This information is provided by BillTrack50 and LegiScan. Note: Due to the nature of the sorting process used to generate this list, some results may not be relevant to the topic. If no bills are di…
Recent News
- The link below is to the most recent stories in a Google news search for the terms Texas budget.These results are automatically generated from Google. Ballotpedia does not curate or endorse these articles.
Contact Information
- Texas Governor's Office of Budget, Planning and Policy 1100 San Jacinto, 4th Floor Austin, Texas 78711 Telephone: 512-463-1778
See Also