Budget
- Major revenue sources
For FY 2010, the top Texas revenue sources by category were approximately:
- Federal Income: $41.4 billion
- Sales Tax: $19.6 billion
- Bond and Note Proceeds: $16.4 billion
- Other Revenue: $7.8 billion
- Investments: $7.4 billion
Besides sales tax, other taxes include franchise, insurance, natural gas, alcohol, cigarettee and tobacco taxes. Texas has no personal state income tax.
- Major spending categories
For FY 2010, the top Texas State Agency spending categories were approximately:
- Public Assistance Payments: $34 billion
- Intergovernmental Payments: $28.2 billion
- Interfund Transfers/Other:$14.9 billion
- Salaries and Wages: $10.6 billion
- Employee Benefits: $7.5 billion
Read more about this topic: Government Of Texas
Famous quotes containing the word budget:
“The United States is the only great nation whose government is operated without a budget. The fact is to be the more striking when it is considered that budgets and budget procedures are the outgrowth of democratic doctrines and have an important part in developing the modern constitutional rights.... The constitutional purpose of a budget is to make government responsive to public opinion and responsible for its acts.”
—William Howard Taft (1857–1930)
“You can fool all the people all the time if the advertising is right and the budget is big enough.”
—Joseph E. Levine (b. 1905)
“We might come closer to balancing the Budget if all of us lived closer to the Commandments and the Golden Rule.”
—Ronald Reagan (b. 1911)