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http://www.bloomberg.com/news/2013-01-07/texas-starts-budget-debate-flush-with-energy-boom-cash.html
Legislators in Texas, the biggest energy producer among U.S. states, will begin deliberating its next two-year budget with a surplus forecast today to match an $8.8 billion record set in 2007.
The Texas economy has topped budget projections over the past 15 months, as booming energy output fueled job growth and an 11 percent fiscal first-quarter gain in sales-tax receipts, the biggest source of general-fund revenue. Even after paying off $7 billion in health and school bills, Comptroller Susan Combs said today that the state will be flush heading into 2014.
Legislators in Texas, the biggest energy producer among U.S. states, will begin deliberating its next two-year budget with a surplus forecast today to match an $8.8 billion record set in 2007.
The Texas economy has topped budget projections over the past 15 months, as booming energy output fueled job growth and an 11 percent fiscal first-quarter gain in sales-tax receipts, the biggest source of general-fund revenue. Even after paying off $7 billion in health and school bills, Comptroller Susan Combs said today that the state will be flush heading into 2014.