TEXAS COMPTROLLER RELEASES OFFICIAL REVENUE ESTIMATES
— Earlier today, Texas Comptroller Susan Combs released the official biennial revenue estimate for the 2012-13 biennium. Senator Juan "Chuy" Hinojosa, Vice Chair of the Senate Finance Committee and member of the Legislative Budget Board, released the following statement.
"The biennial revenue estimates we received from Comptroller Susan Combs this morning donít translate into good news for Texans. We face a budget shortfall that exceeds $15 billion and a projected 2.9 percent decline in state collections that will make it a challenge to adequately invest in our children's education, health care, and other services that are crucial for the state's economic recovery."
"This legislative session will be daunting, but we will work hard to assure that the quality of state services don't suffer as a result of our budget challenges. Neglecting these issues will only limit our economic prosperity and the future success of all Texans."
"Finding a solution to these problems should be the priority and we will be looking very carefully at the Legislative Budget Board estimates that will be released this Friday."