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Texas budget officials to testify today on lagging sales tax revenues
10:42 AM CDT on Tuesday, May 11, 2010
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"The situation is not good," said Rep. Jim Pitts, R-Waxahachie, who has asked representatives of Comptroller Susan Combs to testify before his Appropriations Committee.
Also OnlineState revenues remain "well short" of predictions, although sales tax receipts showed a modest gain last month, Pitts, the House’s chief budget writer, said Monday.
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In January, Perry, Lt. Gov. David Dewhurst and House Speaker Joe Straus, R-San Antonio, asked agencies to suggest cuts of as much as 5 percent in the current two-year budget cycle. Pitts said those cuts would save more than $1 billion, though he predicted the prison system would be granted the most sweeping exemption.
According to the comptroller’s office, 13 agencies and seven colleges and universities already have deposited $67 million in savings in "lock box" accounts.
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Posted from Diigo. The rest of my favorite links are here.
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