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Comptroller's Revenue Forecast

  

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

January 12, 2009

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Today the Comptroller of Public Accounts announced her Biennial Revenue Estimate. The Comptroller forecast $9.1 billion less general revenue to write the budget for 2010-11 than was available for 2008-09. But the Comptroller also forecast $9.1 billion available in the Rainy Day Fund. The 81st Legislature must now write a budget for 2010-11.

Spending cuts would hurt the Texas economy and hurt vulnerable Texans. That means:

• Texas needs federal fiscal relief;
• Texas should spend a significant portion of the Rainy Day Fund to protect the state from the full effects of the recession; and
• Texas should consider new revenue sources.