Bloomberg News

Texas Budget Picture Improves as Tax Revenue Jumps, Combs Says

December 13, 2011

Dec. 12 (Bloomberg) -- Tax collections in Texas, the second-most populous state, will climb 8.6 percent in the two fiscal years that began in September from the previous budget cycle, which ended in August, Comptroller Susan Combs said.

Receipts from all sources will increase 0.8 percent, or about $1.46 billion, over the previous two years to almost $183.1 billion for the current budget, Combs said today in a statement. A 10 percent surge in sales taxes will drive the gains, Combs indicated in an analysis of her forecast.

--Editors: Ted Bunker, Mark Schoifet.

To contact the reporter on this story: David Mildenberg in Austin, Texas, at dmildenberg@bloomberg.net.

To contact the editor responsible for this story: Mark Tannenbaum at mtannen@bloomberg.net.


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