Corsicana Daily Sun, Corsicana, Texas

Latest News

January 7, 2013

Texas Comptroller reports big jump in revenue

AUSTIN — The state comptroller estimates that Texas will generate $96.2 billion in general revenue in 2014-2015, a major jump in tax collection from the last two-year budget cycle.

Republican Comptroller Susan Combs on Monday was releasing her biennial revenue estimate. The crucial number sets the limit on what lawmakers can spend for 2014 and 2015, when Democrats and teachers hope to reverse, or at least bandage, deep cuts in the current budget that included $5.4 billion slashed from public education.

Combs reported Monday that the state collected $8.8 billion more revenue during the current 2012-2013 revenue cycle than she initially forecast, giving lawmakers breathing room in settling a $5.2 billion deficit in the current budget.

"Texas experienced a very strong rebound from a severe recession," Combs said.

Over the next two years, Combs expects more than $3.6 billion will automatically go into the Rainy Day Fund, which is available to lawmakers when needed. That will leave $92.6 billion for lawmakers to divvy out.

But that doesn't mean they will spend all of it.

Lawmakers don't have to spend all the money Combs says is available — and chances are they probably won't. Gov. Rick Perry and Lt. Gov. David Dewhurst have promised to limit any increase in state spending to a sum of population growth plus inflation, or 9.85 percent.

Under current conditions, their plan would create a general revenue budget of $89.29 billion. Combs' estimate in January 2011 was $72.2 billion in general-purpose spending available.

Texas' economy is humming again after lawmakers in 2011 wrote a cut-to-the-bone budget as the nation lurched out of the Great Recession.

At the time, unemployment in the state was the highest in a decade and the Legislature faced a $27 billion shortfall. But unemployment now is at a four-year low of 6.2 percent, sales tax receipts are skyrocketing and money is pouring into state coffers behind a new energy boom.

 

1
Text Only
Latest News
  • Mills place pool Home, sweet home

    Judy and Wayne Nelson had a family of visitors last week — the daughter and grandchildren of the architect who designed their 1927 house on Mills Place.

    July 25, 2014 4 Photos

  • police stock photo Six arrested following drug raid

    Six people were arrested following the execution of a search warrant Thursday night by the Corsicana Police Department’s narcotics detectives, patrol officers and a Navarro County Sheriff’s deputy who works as a courtesy officer for the Arbors Apartment, 1300 N. 45th St.

    July 25, 2014 1 Photo

  • 7-25-14 AgriLife additions.jpg AgriLife adds two new agents to Navarro office

    It’s been awhile since the AgriLife Extension office in Navarro County has been fully staffed, but it’s going great guns now.
    New to the staff are Meredith DeBorde, and Lorie Stovall, who will be heading up the 4-H programs and the family and consumer programs, respectively.

    July 25, 2014 1 Photo

  • Sheriff seeks salary shuffle

    Navarro County Sheriff Elmer Tanner went to the County Commissioner’s budget workshop Thursday to ask for a change of how his officers are compensated, or, alternately, an 8 percent across-the-board raise.

    July 24, 2014

  • 7-25-14 CAC boat.jpg Floating a big fundraiser idea

    The big night is fast approaching for the 10 Grand Country Jam, an Aug. 2 fundraiser for the Child Advocates of Navarro County. What will make it a big night is the grand prize, a $31,000 pontoon boat.

    July 24, 2014 1 Photo

  • Candelario Garcia Jr. (main) Honoring a hero

    Since March of this year, the family of Candelario Garcia Jr. has been so proud of him, they could burst.

    July 23, 2014 2 Photos

  • County Budget Commissioners start budget process

    The Navarro County Commissioner’s Court held its first budget workshop Wednesday, the first of a dozen or more over the next month or so.

    July 23, 2014 1 Photo

  • 7-23-14 pianos main.jpg Public pianos invite players

    Corsicana has always been a musical town, with emphasis on country and western, rock and roll, bluegrass and Gospel, but now the parks and recreation department is moving towards bringing music to the masses in a different way. They’re going to put pianos downtown, on the sidewalks for anyone to play at random.

    July 23, 2014 1 Photo

  • Navarro County 4-H Club holds event

    Texas A&M AgriLife Extention will hold Summer Exploration Days at the Navarro County Expo on Tuesday, July 29 from 8:30 to 11:30 a.m.

    July 22, 2014

  • New date for IPL Job Fair announced

    Tarrant Regional Water District IPL (integrated pipe line) Project will hold a Job Fair from 4 to 7 p.m. Wednesday, Aug. 20, 2014 at The Cook Center.

    July 22, 2014

AP Video
Raw: Air Algerie Flight 5017 Wreckage Virginia Governor Tours Tornado Aftermath Judge Faces Heat Over Offer to Help Migrant Kids Kerry: No Deal Yet on 7-Day Gaza Truce Kangaroo Goes Missing in Oklahoma More M17 Bodies Return, Sanctions on Russia Grow Gaza Residents Mourn Dead Amid Airstrikes Raw: Deadly Tornado Hits Virginia Campground Ohio State Marching Band Chief Fired After Probe Raw: Big Rig Stuck in Illinois Swamp Cumberbatch Brings 'Penguins' to Comic-Con Raw: Air Algerie Crash Site in Mali Power to Be Restored After Wash. Wildfire Crashed Air Algerie Plane Found in Mali Israel Mulls Ceasefire Amid Gaza Offensive In Case of Fire, Oxygen Masks for Pets Mobile App Gives Tour of Battle of Atlanta Sites
Twitter Updates