Fiscal
What is fiscal policy?
Government revenue and expenditures that influence the economy
Where does most of the state money come from?
Sales tax
What is a proportional tax?
A tax that hits everyone the same way
What is a grant?
Money given to a state by the feds
The British national anthem is:
God Save The Queen
What is the LAR? (legislative appropriations request)
A request from a government department for money
Where does county money mostly come from?
Property tax
What are some issues with the State mainly being funded by sales taxes?
Sales taxes have a limit to how long they can adequately fund the state
What is a block grant?
A "block" of money given to a state with little to no restrictions on how it can be spent
The HMS Pinafore is a:
Musical
What is revenue?
Income
6.25% of this goes to ____, and up to 2% can go to the _____
State, county
What do local governments spend the most amount of money on?
School districts
About what portion of Texas's revenue comes from the federal government?
1/3
HVACR stands for:
Heating, ventilation, air conditions, refrigeration
What are expenditures?
Spending
What is a sin tax?
Taxes placed on alcohol, cigarettes, knocker bars
Do we have to have a balanced budget?
Yes
What is a categorical grant?
Bop to the ___
top
What is the Texas Enterprise Fund?
A rainy day fund used to encourage businesses to start or grow in Texas
Do corporations pay an income tax in Texas?
no
What is a regressive tax?
A tax applied uniformly
Federal
What is a budget rider?
A policy tied to a budget bill