Combs Raises Estimate of State Revenue

Comptroller Susan Combs giving a biennial revenue estimate in Austin on Jan. 10, 2011.
Comptroller Susan Combs giving a biennial revenue estimate in Austin on Jan. 10, 2011.

The state's budget outlook is improving and lawmakers will have more money to spend than they thought, Comptroller Susan Combs said in a letter to legislative leaders today.

From her letter:

In recent months, sales tax receipts have shown increasing strength and, now halfway through the fiscal year, it is clear that fiscal 2011 collections will exceed my current estimate.

I am raising my fiscal year 2011 estimate of sales tax revenue by $300 million, thereby improving this year's ending General Revenue balance by that amount. Accordingly, the total amount available for certification for the 2012-13 biennium is raised to $72.5 billion.

That's a relatively small amount in the overall scheme of things, but it's significant. And it's early in the session for a comptroller to cough up extra money, perhaps a sign that the economy will be better than lawmakers expect.

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