Fiscal Responsibility & Accountability
Businesses are attracted to states with an educated, healthy population and a quality of life that exemplifies values such as public safety, the environment and respect for all its citizens. With a strong economic base, we can focus on continuing to make life better for each individual residing in Texas.
We need innovative approaches to address our current gaps. One solution is to take full advantage of federally funded matching programs like Children’s Health Insurance Program (CHIP), and maximize every federal dollar available. Proactive and sound investments for both the short- and long-term are also critical.
Accountability will be key as we ensure that funds – like those collected from traffic violations for trauma care funding – are used for the designated purpose and not misdirected to other line items. We need to explore how preventive health care can save taxpayers millions of dollars in the years ahead. We must continue to streamline state agencies, eliminate waste, and make certain that Texans receive an acceptable return on every dollar spent.
A glance at Rep. Cohen’s record on the issue of the fiscal responsibility & accountability:
- Appointed to the Appropriations Committee which developed a budget that passed unanimously in the House
- Voted to limit the appraised taxable value of a residence homestead to 10% and to ensure that no taxable value could increase by more than 10%
- Coauthored a bill providing immediate tax relief for small businesses by changing the franchise tax exemption from $300,000 to $1,000,000 through December 2011 and then $600,0000 in 2012
- Texas population exceeds 24 million.
- The state budget is $182.3 billion for the biennium. State general revenues such as sales and business taxes supply a portion of the budget. Other sources include federal funds and dedicated state revenues such as gas taxes.
- In Texas, an estimated $18 billion in federal stimulus money is flowing to state and local governments.
- The Texas economy is the world’s 12th largest.
