Hurricane Harvey probably won't wallop Texas’ economy in the long run, Comptroller Glenn Hegar said. But the state’s response to the storm could ultimately mean a multibillion-dollar hit to the state budget.
Southeast Texas leaders told state lawmakers on Wednesday that they don't have enough money to carry out major flood control projects on their own. They also advocated for a collaborative, regional approach to flood control.
Gov. Greg Abbott said Friday another special session of the Texas Legislature won't be necessary to deal with the response to Hurricane Harvey. The Legislature isn’t scheduled to meet again until January 2019.
The Senate doesn't like the House's hit on the Rainy Day Fund. The House doesn't like the Senate's delay of a deposit into the state's highway fund. Neither wants to raise taxes. But all is not yet lost — unless they want to fight about it.
Most Texans don't know the state faces a tight budget, but asked what they'd do in a pinch, many of them say they'd dip into the state's savings account, according to the latest University of Texas/Texas Tribune Poll.
Facing sluggish economic forecasts, Comptroller Glenn Hegar announced Monday that lawmakers will have $104.87 billion in state funds at their disposal in crafting the next two-year budget, a 2.7 percent decrease from the last session two years ago.
In his first certified revenue estimate, Comptroller Glenn Hegar lowered his estimate for how much revenue the state will take in by more than $2 billion, pointing to reduced activity in oil and gas drilling as the main culprit.
The Texas Senate on Tuesday passed a measure granting Texas Comptroller Glenn Hegar more flexibility to invest a portion of the $8 billion in the state’s Rainy Day Fund, sending the bill to the governor's desk.