Dale Craymer, a studious observer of Texas state finances, commented this week that state income is on such an upswing, a record revenue surplus looms.
Craymer, who helms the Texas Taxpayers and Research Association, told the Austin American-Statesman’s Kate Alexander that he expects unexpected growth in state revenues to continue, enabling State Comptroller Susan Combs to project a historic surplus by early 2013.
“It would not surprise me if lawmakers were told: ‘We now have a record surplus,’ ” Craymer said. The existing high-water mark, he said, was the $8.8 billion surplus reported at the end of 2007.
If such transpires, it could signal a turnaround from 2011 when the Republican-led Legislature cut spending to balance the 2012-13 budget. We’ve compiled fact-checked claims about those actions to the right.
Lawmakers are due to write the 2014-15 budget in the legislative session starting in January.
Our Sources
News article, "State tax collections soar, setting up chance for record budget surplus," Austin American-Statesman, Sept. 13, 2012
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