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February 13, 2018      5:23 PM

Greenfield: Super Revenue Growth Continues

Economist Dr. Stuart Greenfield argues that state revenue growth is so good that lawmakers could consider (gasp) increasing spending in certain areas like pay for corrections officers

After listening to the recent Senate Finance hearing on the state of the economy and impact of Hurricane Harvey, I thought it might be helpful to provide some additional background on how well fiscally the state continues doing. 

At the January 30 hearing, Comptroller Glenn Hegar mentioned that state revenue is increasing at a rate above the Certification Revenue Estimate (CRE), but we are only five months into the current fiscal year.  The Comptroller also mentioned that budget deferrals were needed to balance the FY18-19 budget, there is an estimated billion-dollar shortfall for Medicaid, and with anticipated funds needed to address Hurricane Harvey, it was too soon to revise the estimate. 

The complete column by Dr. Stuart Greenfield is in the R&D Department.

By Dr. Stuart Greenfield

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