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Where Did the "Surplus" Come From?

  

Author:
Dick Lavine /(512) 320-0222 x 101

January 17, 2007

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The Comptroller has announced that the Legislature will have "$14.3 billion in new money to spend in the 2008-09 state budget." This figure is a comparison between the amount of general revenue expected to be available for the coming biennium and the amount being spent in the current biennium. This is not the same as estimating that the state will take in $14.3 billion more in 2008-09 than in 2006-07. In fact, total net revenue to general-revenue-related funds in the next biennium is projected to increase by only $3.2 billion over the current level.