2012-05-17 / General Stories

Rep. Tim Kleinschmidt Pledges Support for Texas Budget Compact

Last Thursday, Rep. Tim Kleinschmidt, pledged support for the Texas Budget Compact, a set of five key principles for a stronger Texas outlined by Gov. Rick Perry, to keep Texas on the path to prosperity.

”This is pretty much bedrock conservative fare: controlling taxes, stricter limits on spending, truth-in-budgeting, cutting of inefficient programs, and maintaining a healthy “Rainy Day” reserve fund. I plan to do my part in the next legislative session to keep Texas economically strong, competitive with other states, and a wonderful place to live and raise our children, says Kleinschmidt (R) of Lexington.”

With increasing pressure on the Texas budget, particularly due to the skyrocketing cost of Medicaid, Texans expect their leaders to commit now to the policies and discipline that are required for us to maintain a strong economy and to remain the top job-producer in the nation. Looking ahead to the 2013 Legislative Session, we must be united in our effort to keep Texas on solid financial ground by following the guiding principles in the Texas Budget Compact.

1. Practice truth in budgeting.

2. Support a Constitutional limit of spending to the growth of population and inflation.

3. Make the small business tax exemption permanent, and oppose any new taxes or tax increases.

4. Preserve a strong Rainy Day Fund.

5. Cut unnecessary and duplicative government programs and agencies.

According to USA Today, Texas has moved past New York as the nation’s second largest economy, and the Wall Street Journal has credited the State’s low taxes and employer-friendly environment with helping make Texas the job creation capital of the nation. Additionally, Texas consistently ranks among the top states for Fortune 500 headquarters.

“The one concession I am willing to examine on raising taxes is to eventually look at the potential for raising fuel taxes to meet the transportation needs of our rapidly growing and expanding population, especially in our metropolitan areas, “ said Kleinschmidt.

Now is the time to take steps to advance us even further by committing to the sound fiscal principles of the Texas Budget Compact.

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