A
What are grants-in-aid?
Gifts of money from one government to another
Which group of Texans pays the most in taxes in proportion to their income?
Poorest 20 percent
What is the state’s largest financial aid program?
TEXAS Grants Program (Toward Excellence, Access, and Success)
Texas state government depends heavily on which type of tax to finance services?
Sales tax
How many years does Texas's budget cover?
two years
When does the fiscal year in Texas begin?
September 1
What's the largest source of state revenue in Texas?
Federal grants-in-aid
What is the name for a bond that is repaid from the General Revenue Fund?
General obligation bond
What must happen before the governor can sign a biennial budget approved by the legislature?
The comptroller certifies the state will collect sufficient revenue to cover the expenditures.
Which kind of taxes rely more heavily on revenues from higher incomes?
Progressive
What is the name of Texas's main financial account that measures the state’s fiscal health?
General Revenue Fund
Which of the following is an example of a business tax?
Payroll taxes
What must the Texas legislature do because of the pay-as-you-go system?
Not pass a deficit budget
Which of these is responsible for overseeing the investment of state funds?
State comptroller
What are two of the biggest state expenditures in Texas?
Health and human services and education (K-12 and Higher education)
Which of the following would not have a selective tax placed on them?
Food and clothing
What is the name of a state tax levied on a natural resource taken from the earth?
Severance tax
What is another name for the state’s Rainy Day Fund?
Economic Stabilization Fund
Which tactic does Texas often use to balance the budget?
Reducing funding for high-cost items such as Medicaid and education
Which of the following is true of Texas’s dual budgeting system?
The governor and the legislature draw up budget proposals.
Compared to the rest of the nation, where does Texas rank concerning the number of children without health insurance coverage?
The highest
Which method of taxation places a greater burden on lower incomes and a lighter burden on higher incomes?
Regressive taxation
Which of these types of policy concerns government decisions regarding revenues, expenditures, and borrowing?
Fiscal policy
Most Texans have indicated in numerous polls that they prefer which type of taxation?
Regressive