Looming Deficit
What to Know: Texas faces a $4.6 billion deficit, the state comptroller projects.
The TPPF Take: Itâs time for the state to tighten its belt, as Texas families are forced to do.
âFortunately, state leaders have already asked some agencies to find 5% savings to cover part of this shortfall, and we recommend that every agency use all efforts, including zero-based budgeting to find additional savings of up to 15% by cutting wasteful and unnecessary spending,â says TPPFâs Vance Ginn. âBy safely reopening Texas and getting people back to work and students in schools, the state will be best positioned to deal with any tax receipts shortfall while providing the best opportunities for Texans to flourish.â