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Texas Brightens Budget Outlook but Warns of Trade War Risks

Posted/updated on: July 12, 2018 at 3:33 am
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AUSTIN (AP) – Rising oil prices and economic growth have Texas officials projecting a bigger financial cushion to pay for Hurricane Harvey, school safety and health services for the poor. Texas Comptroller Glenn Hegar on Wednesday raised his revenue estimate by nearly $3 billion. He warned that a trade war or a U.S. withdrawal from the North American Free Trade Agreement could sour that outlook between now and January. That’s when the Texas Legislature will return facing a list of big expenses. Lawmakers underfunded Medicaid by more than $2 billion and bills remain from Hurricane Harvey. Teachers are also expected to pressure the GOP-controlled Legislature for money in the wake of protests by educators across the country. Hegar says sales tax collections in Texas are up 10 percent from a year ago.


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