Texas Lieutenant Governor, Speaker Set $80.6 Billion Budget Plan
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Texas legislative leaders agreed to an $80.6 billion two-year spending plan that cuts expenses from current levels while relying on $1.2 billion of additional tax revenue tied to an improving economy.
A 10-member conference committee, along with Lieutenant Governor David Dewhurst and House Speaker Joe Straus, reconciled the House of Representatives and Senate versions of a budget for the 2012-2013 biennium. Final approval still hinges on passage of several bills including financing of public schools and universities, Dewhurst said in a statement.