State Comptroller Raises Revenue Estimate $300 Million

AUSTIN (AP) – Comptroller Susan Combs says the state will have an additional $300 million to spend in the next budget.

In a letter to lawmakers Monday, Combs said that because of improved sales taxes returns, 2011 collections “will exceed my current estimate.”

The new estimate might help alleviate some of the pain from budget cuts, but not by much.

The total revenue estimate for the next two years, now $72.5 billion, is still more than $14 billion short of the amount needed to maintain state services at their current level without accounting for population growth and cost increases.

The announcement comes as lawmakers are debating whether to tap the Rainy Day Fund to help fill a projected $4.3 billion deficit in the current budget.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)


One Comment

  1. John Dunn says:

    Maybe it’s from the massive audits being conducted on businesses for the wonderful Franchise taxes

  2. StopSlickRick says:

    Won’t be nearly enough. We were warned of this budget crisis five years ago by the comptroller. Demand that the sleazy lawmakers running Austin serve as better stewards of our money. They saw this crisis coming and didn’t care. They hoped you wouldn’t notice. Time to pay attention, Texas, and demand better.

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