Texas Budget Surplus Proves as Contentious as a Previous Shortfall (NY Times)

January 8, 2013 – The last time Texas lawmakers began a legislative session, a cost-cutting fervor filled the marble hallways of the Capitol in January 2011 as the state faced a budget shortfall of as much as $27 billion. Legislators warned of sparing nothing and no one from deep cutbacks — from highways, to prisons, to health care for the poor, to programs for preschool children. Two years later, as lawmakers met Tuesday for the opening of the Legislature, the state’s financial picture was not nearly as dire. A boom in revenues from sales taxes as well as taxes from oil and natural gas production have given Texas a budget surplus that the state comptroller has estimated at $8.8 billion.

Link to Full Article: http://www.nytimes.com/2013/01/09/us/texas-budget-surplus-proves-as-contentious-as-a-previous-shortfall.html?_r=0

 

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