Sunday, September 21st, 2014

A record Texas revenue surplus?

State Comptroller Susan Combs talks about her forecast of state revenues in January 2011. A close observer says she could project a record surplus in January 2013. (Austin American-Statesman photo, Alberto Martinez)
State Comptroller Susan Combs talks about her forecast of state revenues in January 2011. A close observer says she could project a record surplus in January 2013. (Austin American-Statesman photo, Alberto Martinez)

Dale Craymer, a studious observer of Texas state finances, commented this week that state income is on such an upswing, a record revenue surplus looms.

Craymer, who helms the Texas Taxpayers and Research Association, told the Austin American-Statesman’s Kate Alexander that he expects unexpected growth in state revenues to continue, enabling State Comptroller Susan Combs to project a historic surplus by early 2013.

"It would not surprise me if lawmakers were told: ‘We now have a record surplus,' " Craymer said. The existing high-water mark, he said, was the $8.8 billion surplus reported at the end of 2007.

If such transpires, it could signal a turnaround from 2011 when the Republican-led Legislature cut spending to balance the 2012-13 budget. We've compiled fact-checked claims about those actions to the right.

Lawmakers are due to write the 2014-15 budget in the legislative session starting in January.