Strayhorn finds vindication, but no joy, in shortfall Perry rejected ex-comptroller's budget warning

[mbperrin]

http://www.chron.com/disp/story.mpl/metropolitan/7383426.html


AUSTIN — Comptroller Carole Keeton Strayhorn did not win friends five years ago when she warned Gov. Rick Perry and state lawmakers they were writing the "largest hot check in Texas history" during a tax overhaul that resulted in lower property taxes and a revised business tax.

Strayhorn told them their plan would fall about $23 billion short over a five-year period.
Now, five years later, state leaders are staring at an estimated budget shortfall of nearly $27 billion over the next two years.
The nation's economic collapse three years ago contributed to some of the state's revenue troubles, but the biggest problem is that the new business tax did not generate enough money to pay for the school property tax cut, Strayhorn said Friday.
"I absolutely knew I was telling them straight up as best as I knew," the former comptroller said. "I knew it would be awhile before you would see the results."

At the time, Perry rejected Strayhorn's warning — saying she underestimated the tax reform and ignored economic growth from property tax cuts.
<snip>
Lt. Gov. David Dewhurst said resurrecting Strayhorn's five-year-old forecast is "old news."

Just checking to see how far down the memory hole Texans have gone...

[sonias]

1. Perry's fault - 100%

Just like those of us paying attention knew all along.

:shrug: