Comptroller to State: Forecasted Revenue Higher Than Expected

Texas Comptroller Glenn Hegar recently released the Certification Revenue Estimate (CRE) for the fiscal 2020-2021 biennium. The good news was that, due to actions from the 2019 legislature, combined with an updated economic forecast, the Comptroller’s office expects available general revenue spending to total approximately $121.76 billion, a 9.6% increase from the 2018-2019 biennium.

“In fiscal 2019, the Texas economy continued to grow at rates among the highest in the nation,” Hegar said. “We are projecting continued expansion of the Texas economy in this biennium,” Hegar said.

There is, however, a “but” to the news, with Hegar pointing out some of the potential risks to economic expansion, including trade and national economic uncertainty because of  “slowing global economic growth and volatility in energy prices resulting from instability and potential conflict in the Middle East,” he added.

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