Texas Revenue Estimate Brighter On Eve Of Session

Texas revenue estimate brighter on eve of session Associated Press Copyright 2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Updated 3:06 pm, Monday, January 7, 2013 AUSTIN, Texas (AP) — A resurgent Texas economy fueled a strong state revenue projection Monday, but while majority Republicans preached restraint Democrats saw enough money on the table under the $101.4 billion estimate to reverse deep cuts currently on the books. Republican Comptroller Susan Combs pointed to a "strong rebound from a severe recession" while unveiling the brighter biennial revenue estimate at her state offices. "Even as we head into the 83rd legislative session with higher revenues, we still need to focus on separating our wants from our needs, and continue to follow the conservative fiscal principles that have led to Texas' ongoing success and will keep Texas strong," Perry said. Critics, however, have argued that if Combs had been less conservative and given lawmakers more money to work with in 2011, cuts that included $5.4 billion to public schools could have been blunted. The Center for Public Policy Priorities, a progressive think tank in Austin, estimates that lawmakers will need to spend $96 billion in the next budget cycle to freeze the current level of services in one of the nation's fastest-growing states. Reversing the spending cuts of 2011 are in reach if lawmakers are willing to dip heavily into the Rainy Day Fund, she said, but that's a political longshot at best.

 

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