Wednesday, July 8, 2015
Other state, Texas, finds a way to reduce budget waste
N.J. budget could take a lesson from Texas
When Texas was facing a massive state budget deficit in the early 1990s, then-Gov. Ann Richards, Comptroller John Sharp and the state legislature assembled over 100 of the best budget analysts, auditors and number crunchers in Texas government and gave them a single mission: get us out of this budget crunch. In five months, the team came up with over 1,000 recommendations and identified over $2.4 billion in budget savings, ending the budget crisis and averting the need to impose a state income tax. The success of the review gave rise to the Texas Performance Review, a biennial review of Texas government that has resulted in $13.1 billion in savings and gains to state funds since it was launched in 1991.
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