Revenue Forecast & Coverage

Comptroller’s revised revenue forecast for the 85th Legislature is $110.4 Billion.

Why the decrease? 2.3% decline in general revenue, reflecting a decline in oil and gas and the energy sector. 

What’s the impact to Rainy Day Fund (Economic Stabilization Fund)? The fund balance should be $10.7 Billion by the end of fiscal year 2017 on August 31, 2016. 

Coverage:

• AP via Click2Houston | Texas lowers projected tax revenue by $4.7B amid oil prices
• Ft. Worth Star Telegram | Comptroller revises revenue estimate due to lower oil prices
• Dallas Morning News | Texas comptroller Hegar concedes budget forecast was too rosy
• High Plains Public Radio | As Energy Sector Struggles, Texas Sales Tax Revenues Slump