Published: 10-23-08
Highlights Priorities for 2009 Legislative Session
DALLAS – Gov. Rick Perry today spoke at a Dallas Regional Chamber luncheon addressing the ramifications of both Hurricane Ike and the national economic downturn.
“As Texans face the impact of Hurricane Ike and prepare for effects of the national financial downturn Texas businesses and families are tightening their belts and exercising greater financial discipline” said Gov. Perry. “State government should act no different. We have made tough choices over the years that have earned Texas the economic strength it enjoys today; and we must continue to follow these principles if we hope to weather these storms.”
He also reiterated the need for state agencies to cut as much discretionary spending from their budgets as possible a priority he will carry through the upcoming legislative session. Last week Gov. Perry issued this directive in a letter to all state agency leaders. They are expected to report how they plan to specifically address the governor’s request the week of Oct. 27.
“I want to know firsthand what state agencies are seeing so we can stay ahead of this situation” said Gov. Perry. “We are called to be good stewards of the resources entrusted to us by Texas taxpayers and obligated to monitor the outside forces affecting our economy and deal with them proactively.”
On top of his priority to lower state spending Gov. Perry also pledged to push for greater budget transparency and to press for continued investment in border security during the upcoming legislative session.
Texas’ policies of limited growth in spending low taxes and a reasonable regulatory environment have strengthened the Texas economy preparing the state to handle the national economy’s current instability. Stronger guidelines for home equity borrowing and lending have resulted in Texas having some of the lowest levels of mortgage defaults among the nation’s top 10 most populous states.
The Financial Times recently named Texas the number one state economy in the nation in light of the ongoing economic and financial slowdown. States’ positions were based on a ranking of four separate economic indicators: employment growth rate state product growth rate personal income growth rate and home foreclosure rate.
Texas continues to be a leader in job creation generating nearly half of all jobs created in the nation from August 2007 to August 2008. The state’s unemployment rate remains at 5 percent 1.1 percent below the national average. Texas also remains home to more Fortune 500 headquarters than any other state in the nation.
