Texas Comptroller reports big jump in revenue

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Updated: 1/07/2013 10:50 am
AUSTIN, Texas (AP) - The state comptroller estimates that Texas will generate $92.6 billion in general revenue in 2014-2015, a major jump in tax collection from the last two-year budget cycle.
Susan Combs released the estimate Monday, the day before the 83rd Texas Legislature convenes. She also reported $8.8 billion in surplus revenue.
More than $3.6 billion will automatically go into the Rainy Day Fund, so the Legislature has immediate control over how $89 billion can be spent. That doesn't mean they will spend all of it.
Gov. Rick Perry and Lt. Gov. David Dewhurst have promised to limit any increase in state spending to a sum of population growth plus inflation, or 9.85 percent.
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