Modest Plan to Cut the Texas Budget in Half

[Click image to view full report]

Libertarian Booster PAC presents a plan to cut Texas state spending across the board by 4% per year for ten years. Combined with projected 3% annual current-dollar growth in gross state product, this plan shows how Texas tax rates can be cut in half by 2030, and how state spending (as a percentage of gross state product) can be reduced by half. The plan is called the “Modest Plan to Cut the Texas Budget in Half.”

Libertarians think people are better off when they are free to keep more of the money they earn. The lower the taxes, and the stronger the economy, the more people can afford the things they want and need without assistance from the government.

We are not simply looking to improve government efficiency and to reduce waste. We would go further. Libertarians want the government to do less. We think many services the government provides today, like health care, education, and transportation, would be better if provided by the private sector. And some things done by government should not be done at all, like throwing marijuana users in jail.
​
Our plan is to make Texans’ lives better by cutting government spending, reducing taxes, and moving many people off government assistance into a thriving free market economy. While some low-income Texans will have direct government benefits reduced, they’ll also pay lower sales taxes, lower government fees, have greater job opportunities and an overall lower cost of living. 

Key features:

• Gradual, ten-year phase-in
• Cuts spending across the board by 4% per year
• Reduces tax rates 5% per year (50% after ten years)
• Cuts spending as percent of gross state product in half

---

All Tax Rates Halved (Examples)	2020	2030
Sales tax	6.25%	3.125%
Gas tax	$0.20/gal	$0.10/gal
Oil production tax	4.6%	2.3%
Cigarette tax	$1.41/pack	$0.71/pack

Key Measures	2020	2030
Total spending (billions)	$125	$83
Spending as % of gross state product	6.47%	3.2%
Spending per resident (current $)	$4,250	$2,434

lbpac_texas_budget_plan_2020-06-15_v1.pdf
File Size:	1144 kb
File Type:	pdf

Download File

---