Texas, which has the ninth-largest economy in the world, it can be tough to make sense of all the financial transactions in government circles. In the April issue of Fiscal Notes, subscribers can read about the online reports and data visualization tools the Comptroller’s office provides to promote statewide fiscal transparency. These tools will help policymakers make spending decisions during the 88th Texas Legislature and allow the public to keep up with the process. “Transparency is […]
Fiscal Notes
Fiscal Notes: Texas’ Rainy Day Fund Projected to Hit Cap for First Time
The extraordinary economic factors that have given the 88th Legislature an unprecedented amount of money for general-purpose spending also are generating record high revenues for Texas’ Economic Stabilization Fund (ESF), the state savings account that’s commonly called the Rainy Day Fund. In the March issue of Fiscal Notes, the Comptroller’s office looks at the Rainy Day Fund, which is projected to surpass $27 billion by fiscal 2025, a drastic uptick from less than $11 billion at the […]
Fiscal Notes: Fentanyl Flowing into Texas
In response to the number of opioid-related drug deaths stemming from prescription misuse over the course of the last 20 years, Texas and 13 other states filed a lawsuit against several pharmaceutical companies for their role in causing the opioid crisis. As a result, Texas will receive an anticipated $1.6 billion over the next 18 years from six different companies through settlement agreements. In 2021, the 87th Texas Legislature created the Texas Opioid Abatement Fund […]
Fighting the Opioid Crisis
Fifty times more powerful than heroin and 100 times stronger than morphine, fentanyl can be a pain management tool when prescribed. However, in 2021 illegal use of the drug was linked to almost 1,700 fatal overdoses in Texas. This month’s Fiscal Notes explores how the state is addressing the fentanyl crisis and protecting the 1,254-mile Texas-Mexico border to prevent illicit fentanyl from seeping across in “Fentanyl Flowing into Texas.” Stopping illicit fentanyl is only one part of […]
Fiscal Notes: Drought in Texas
Texas is currently experiencing the worst drought since 2011, which cost the state’s economy about $7.62 billion in direct agricultural losses and nearly $17 billion in total losses. In the November/December issue of Fiscal Notes, the Comptroller’s office examines droughts and their toll on the Texas economy, most notably the state’s agricultural industries and municipalities. “This present drought has spelled disaster for the state’s cotton industry,” Texas Comptroller Glenn Hegar said. “One estimate says cotton producers, which […]
Fiscal Notes: Agriculture Industry Grows Texas
Texas has about 247,000 farms and ranches and 126 million acres of farmland, more than any other state. In 2021, Texas ranked fourth among states for total cash receipts for all agricultural commodities — including Texas’ prominent cotton industry in the Panhandle, its cattle ranches in the west and its timber harvesting in the east. In October’s issue of Fiscal Notes, the Comptroller’s office looks at the Texas agriculture industry and its outsize impacts on the state […]
Fiscal Notes: Military Bases Spur Jobs, Income and Infrastructure
Military bases in Texas generated more than $114 billion in economic activity and added more than $67 billion to the state’s gross domestic product in 2021. The bases also generated more than $42 billion in annual disposable personal income and directly and indirectly supported more than 622,000 Texas jobs. In September’s issue of Fiscal Notes, the Comptroller’s office explores a study prepared by this agency at the request of the Texas Military Preparedness Commission, examining the crucial […]
Fiscal Notes: Understanding Cryptocurrency and its Rise
Nearly 9 out of 10 Americans have heard at least a little about cryptocurrencies, and 16 percent have invested in, traded or used a cryptocurrency, according to a 2021 Pew Research Center survey. Even though more Americans are familiar with cryptocurrency — only about 48 percent of respondents in 2015 reported hearing about bitcoin — skepticism is growing. Critics have called cryptocurrency a scam, a pyramid scheme and much more. In the recently released August issue of Fiscal Notes, the Comptroller’s office […]
Fiscal Notes: Steep Rise in Prices Puts Inflation in the Spotlight
(AUSTIN) — Texas and the U.S. are experiencing the highest levels of inflation since the early 1980s. Inflation puts pressure on everyone in tangible ways, but why it occurs may be less obvious to the average consumer. In the recently released May issue of Fiscal Notes, the Comptroller’s office looks at inflation and the role it plays in the economy. “Chances are that you and your family have discussed recent price increases for groceries and other essentials,” […]
Fiscal Notes: Drivers Wanted – Texas Trucking Strives to Stay on the Move
About 3.5 million truck drivers, with an average age of 46, are on U.S. roadways, according to the U.S. Bureau of Labor Statistics. By 2030, more than half of current truck drivers will have passed retirement age. In the recently released March/April issue of Fiscal Notes, the Comptroller’s office looks at looming labor shortages in the trucking industry. “You may have heard the trucking industry is struggling to attract and retain employees. Big rig trucks […]