Tax Revenue for Fiscal 2009 Falls $1.1 Billion Short of Comptroller's Forecast

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Dick Lavine /(512) 320-0222 x 101

December 1, 2009

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Our state needs adequate revenue to keep our public structures working and to prevent painful cuts in state services. The state’s new Annual Cash Report for fiscal 2009, though, reveals that tax collections for the year were $1.1 billion short of the Comptroller’s forecast. Ominously, for the first 2 months of the new 2010 fiscal year, sales taxes have generated 12.7 percent less revenue than in the same period in fiscal 2009. Texas needs its elected officials to take forceful action, including a second package of federal aid to states, school districts, and local governments, to help our state maintain public services until steady economic growth resumes.