Governor Abbott releases 2018-19 budget

AUSTIN – Coinciding with his State of the State address, Governor Greg Abbott today released his budget for the 2018-19 biennium. The Governor’s budget ensures Texas will live within its means while fully funding key priorities without raising taxes or debt, and without looting the Rainy Day Fund. The budget released by the Governor builds on the successes of the 84th Legislature and looks to the future by strategically investing in priorities that protect the safety and security of Texans, furthers educational advancement of our future workforce, and empowers the private sector to create jobs, while also defending individual liberties and guarding against government overreach.

“This upcoming biennium will be a time for addressing essential needs and eliminating the nonessential wants,” said Governor Abbott. “That is why my budget proposal ensures that state government lives within its means while maintaining funding for important, but limited priorities. Fostering a climate of fiscal responsibility, low taxes, reasonable regulation, and limited government will enable Texas to remain the envy of the nation and encourage private sector investment, expansion, and innovation.”

Highlights Of The Governor’s Budget:

• Adds $500 million for reforming Child Protective Services (CPS)

• Maintains $800 million in funding for border security

• Fully funds $5 billion in additional road construction without new taxes, fees, debt, or tolls

• Fully funds optional, high-quality PreK programs

• Fully funds job creation programs like the Texas Enterprise Fund (TEF)

• Fully funds the Governor’s University Research Initiative (GURI)

• Fully funds disaster relief programs

• Cuts taxes on employers (franchise tax) by another $250 million

• Maintains funding for development grants that support Texas military bases