You have reached your limit of free articles this month.

Enjoy unlimited access to myStatesman.com

Starting at just 99¢ for 8 weeks.

GREAT REASONS TO SUBSCRIBE TODAY!

  • IN-DEPTH REPORTING
  • INTERACTIVE STORYTELLING
  • NEW TOPICS & COVERAGE
  • ePAPER
X

You have read of premium articles.

Get unlimited access to all of our breaking news, in-depth coverage and bonus content- exclusively for subscribers. Starting at just 99¢ for 8 weeks

X

Welcome to myStatesman.com

This subscriber-only site gives you exclusive access to breaking news, in-depth coverage, exclusive interactives and bonus content.

You can read free articles of your choice a month that are only available on myStatesman.com.

Comptroller: Texas lawmakers will have less to spend in next budget


State lawmakers returning to the Capitol on Tuesday will face a bleak budget outlook thanks to low oil and gas prices and past budget decisions that could tie their hands if they attempt to bolster the distressed foster care system or increase funding for public education.

Comptroller Glenn Hegar unveiled Monday a $104.9 billion biennial revenue estimate, which determines how much money lawmakers can spend in the 2018-19 budget. That’s 2.6 percent below the current two-year budget’s revenue estimate of $107.7 billion.

The revenue estimate deals only with money over which lawmakers have discretionary control. The total amount of available state revenue, including federal funds that pass through the state and other dedicated revenue streams, will be $224.8 billion for 2018-19.

Hegar noted that the Texas economy continues to grow, albeit at a slow rate. But the budget is not keeping pace, he said, because of slumping fossil fuel prices, which affect the state’s primary revenue source, the sales tax, and fiscal decisions made in recent legislative sessions.

In particular, Hegar pointed to the passage of Proposition 7, a state constitutional amendment voters approved in 2015 that will divert $4.7 billion in 2018-19 from discretionary revenue to the State Highway Fund.

Additionally, lawmakers last year cut the franchise tax on businesses by 25 percent. That cut will result in the tax yielding $7.8 billion in the 2018-19 budget, a 2.4 percent decrease.



Reader Comments ...


Next Up in Texas News & Politics

UPDATE: Search crews find body of swimmer in McKinney Falls Park
UPDATE: Search crews find body of swimmer in McKinney Falls Park

9:55 p.m. update: Search crews have found the body of the swimmer who went missing at McKinney Falls Park, confirming the man has died. Austin police had no additional information. Earlier: Search crews looking for a male swimmer that was reported missing at McKinney Falls Park on Friday evening have ceased rescue operations and are now in recovery...
Dallas officer charged with assault in shooting death of woman
Dallas officer charged with assault in shooting death of woman

A grand jury has recommended an aggravated assault charge against a Dallas police officer who shot and killed a pregnant woman in a January confrontation involving a stolen car. The Dallas County district attorney announced Friday that Christopher Hess was indicted on a charge of aggravated assault. The charge is related to the January shooting death...
Officials ID woman who died trapped under vehicle in Jonestown

JONESTOWN Woman who died trapped under vehicle ID’d The Travis County sheriff’s office has identified the woman who died trapped under a vehicle in Jonestown on Thursday evening as 62-year-old Denise Lynn Coonrod, of Jonestown. Authorities responded at about 7 p.m. to a call from the 10000 block of Deer Canyon Drive, officials said. &ldquo...
Businesses fear more fallout may follow California travel ban to Texas
Businesses fear more fallout may follow California travel ban to Texas

California’s decision to ban its state employees from traveling to Texas on their taxpayers’ dime after Texas lawmakers passed new limits on gay parents adopting and fostering children set off a new round of recriminations Friday between the nation’s two largest states. But with the usual exchange of barbs came a new set of warnings...
GREG KELLEY CASE: Rangers’ report finds ‘previously undetected’ crimes

A Texas Rangers report looking into new allegations in the case involving Greg Kelley, who was convicted in the sexual assault of a 4-year-old boy in 2014, is soon to be finalized and hints at a finding of newly discovered criminal activity, Williamson County court documents show. However, the document will not be immediately released to the public...
More Stories