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Posted on: July 17, 2018

Texas comptroller bumps revenue estimate by $2.8B, thanks to higher oil prices and economic growth:

Dallas Morning News


AUSTIN — Comptroller Glenn Hegar on Wednesday increased his revenue estimate for the current two-year budget cycle by $2.8 billion.


Hegar said tax collections have exceeded his expectations because of a strengthening Texas economy and higher oil prices and production.


Revenue Estimate

"The best ongoing indicator of the robust Texas economy is the state's rate of job growth," the Republican comptroller said in a written statement.


"Texas added more than 350,000 new jobs in the 12 months ending in May 2018, and the state's unemployment rate has been at or near historic lows in recent months."


While issuing a few caveats, Hegar said he looks for "continued growth through fiscal 2019 for both the economy and state revenue." 


Read full Dallas Morning News article.

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