Texas TomorrowTexas Tomorrow

The Future of Texas In 2014-2030

INTRODUCTION

Two Key Duties of the Texas Comptroller

Revenue EstimatorRevenue EstimatorThe Comptroller’s office is responsible for The Comptroller’s office is responsible for reporting the state’s financial condition to reporting the state’s financial condition to the Legislature annually and providing the Legislature annually and providing estimates of revenue for future years. estimates of revenue for future years.   Financial OfficerFinancial OfficerGuardian of the state’s fiscal affairs and Guardian of the state’s fiscal affairs and legislators rely on the Comptroller to chart legislators rely on the Comptroller to chart the course of the Texas economy, produce the course of the Texas economy, produce annual financial reports and estimate annual financial reports and estimate future state revenues and expenses.future state revenues and expenses.

Does Experience Does Experience Matter?Matter?

@RaulTorresGOP@RaulTorresGOP

Key Duties of the Texas Key Duties of the Texas ComptrollerComptroller

• Revenue EstimatorRevenue Estimator• Financial OfficerFinancial Officer• AuditingAuditing• AccountingAccounting• EnforcementEnforcement• Tax LawTax Law• TreasurerTreasurer• Cash ManagementCash Management• PayrollPayroll• InvestmentsInvestments

YOUR MONEY AND THE BUDGETYOUR MONEY AND THE BUDGET

Education and Healthcare =

83.3% of the budget

FUTURE PROJECTED COSTSFUTURE PROJECTED COSTS

BudgetBudget TaxesTaxes DebtDebt InfrastructurInfrastructuree

WaterWater EducationEducation

STATE AND LOCAL DEBTSTATE AND LOCAL DEBT

STATE DEBT = $40 STATE DEBT = $40 billion billion

+ LOCAL DEBT = + LOCAL DEBT = $321$321

__________________________________________________

TOTAL = $ 361 TOTAL = $ 361 billionbillion

Due in 15-30 Due in 15-30 yearsyears

TRANSPORTATIONTRANSPORTATION

TotalTotalProjected Projected COSTS = COSTS = $315 $315 billionbillion

Due in 20 Due in 20 yearsyears

WATER NEEDSWATER NEEDS

TotalTotalProjecteProjected d COSTS COSTS = = $231 $231 billionbillion

EDUCATIONEDUCATION

Texas public Texas public schools are schools are losing 1 out of 4 losing 1 out of 4 students!students!

86,000 new 86,000 new children enter children enter Texas public Texas public schools each schools each year.year.

Adds $723 Adds $723 million to million to education education budget per yearbudget per year

FUTURE FINANCIAL NEEDS OF FUTURE FINANCIAL NEEDS OF STATESTATE

Local DebtLocal Debt $321 billion$321 billion TransportationTransportation 315 315 billionbillion

WaterWater 231 billion 231 billion Education*Education* 22 billion 22 billion* (86,000/year x $8,400 = $723 million/year x 30 years)* (86,000/year x $8,400 = $723 million/year x 30 years)

TotalTotal $889 $889 billion billion

$889/ 30 years $889/ 30 years $29.6 $29.6 billion/year billion/year

Other anticipated projected costs such as increases in Medicaid, pay raises, and cost of Other anticipated projected costs such as increases in Medicaid, pay raises, and cost of living are not included.living are not included.

WHY IS THIS INFORMATION WHY IS THIS INFORMATION IMPORTANT?IMPORTANT?

BAD NEWSBAD NEWS

Only 16.7%Of budget is available

Where is the Where is the additional $29.6 additional $29.6 billion per year billion per year coming from?coming from?

•Tax increasesTax increases•Fee increasesFee increases•Cut in servicesCut in services•Other sourceOther source

SOLUTION

presents a blueprint for growing presents a blueprint for growing the Texas economy resulting in the Texas economy resulting in a higher quality of life for its a higher quality of life for its citizens. It promotes innovative citizens. It promotes innovative and creative ideas to prioritize and creative ideas to prioritize state spending, stabilizing the state spending, stabilizing the state’s taxing and regulatory state’s taxing and regulatory programs, incentivizing the job programs, incentivizing the job creators and calls for true creators and calls for true public school reform. public school reform.

Texas Tomorrow: An Economic Plan for the 21Texas Tomorrow: An Economic Plan for the 21stst Century Century

Some Key Ideas from Texas Tomorrow

Texas must be more efficient with spending and we Texas must be more efficient with spending and we must grow our economy by:must grow our economy by:•Incorporating zero based budgetingIncorporating zero based budgeting•Providing a cost benefit analysis of relevant spending programs Providing a cost benefit analysis of relevant spending programs eliminates unnecessary spendingeliminates unnecessary spending•Eliminating Margins Tax projected to create 41,000 jobs plus provide Eliminating Margins Tax projected to create 41,000 jobs plus provide for $6-$10 billion in disposable incomefor $6-$10 billion in disposable income•Implementing Lean Six Sigma and the projected savings is $15-$20 Implementing Lean Six Sigma and the projected savings is $15-$20 billion per year billion per year •Eliminating Costly, non beneficial regulationsEliminating Costly, non beneficial regulations•Reform tax code, education system, and othersReform tax code, education system, and others

WHAT YOU CAN DO TODAYWHAT YOU CAN DO TODAY

• Join us in this effort at Join us in this effort at www.electraultorres.comwww.electraultorres.com• Follow up on Follow up on Facebook.com/raultorrespageFacebook.com/raultorrespage• Follow us on Twitter.com Follow us on Twitter.com @RaulTorresGOP@RaulTorresGOP• Help us with a financial contributionHelp us with a financial contribution• Tell your family and friends Tell your family and friends • For more information contact us at For more information contact us at (210) 399-8799 (210) 399-8799

or our email is or our email is elect.raultorres@yahoo.comelect.raultorres@yahoo.com

QUESTIONS