January 10, 2017
Texas Comptroller Glenn Hagar presented a $104.9 billion budget to lawmakers before the 85th Legislature convened on Jan. 9. The amount represented a 2.7% decrease from his 2014 estimate, and lawmakers will likely be having to make cuts as they build the next two-year budget.
The reason for the decline involved the oil slump, which was not in evidence in early 2014. Another factor is that billions in tax revenue is already slated to the state highway fund. As a result, while Texas is still on the receiving end of revenue, it is “more than offset” by demands from the state highway fund and other funds, Hagar noted.
The revenue estimate isn’t the scope of the entire Texas budget, but it does set a limit on the state’s general fund. This is the part of the budget that the lawmakers have the most control over.
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