A record Texas revenue surplus?
By W. Gardner Selby
Published on Thursday, September 13th, 2012 at 10:35 a.m.
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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.
Sources:
News article, "State tax collections soar, setting up chance for record budget surplus," Austin American-Statesman, Sept. 13, 2012
See Truth-O-Meter articles.
Researchers: W. Gardner Selby
Names in this article: Susan Combs
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