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Texas Faces $11 Billion Shortfall
A key state official says the Texas Legislature will face an $11 billion shortfall when lawmakers return to Austin next year.
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AUSTIN (March 8, 2010)—John O'Brien, director of the Legislative Budget Board, told a legislative committee Monday in Austin that the Texas Legislature will face a shortfall of at least $11 billion when lawmakers write the next state budget in 2011.
The amount is the projected difference between available revenue and the cost of maintaining services at their current levels.
O'Brien said Monday that the estimate is conservative and could grow to as much as $15 billion.
The shortfall is a result of several factors, including lower-than-expected sales tax receipts.
State agencies have submitted proposals to cut their current-year budgets by 5 percent, as requested by Gov. Rick Perry, but those savings will only amount to about $1.7 billion, O'Brien said.
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DON'T BLAME PERRY BLAME OBAMA AND THOSE EVIL LIBERALS FOR TEXAS PROBLEMS. PRAISE THE LORD FOR PERRY.
funny how this news was released one week after the primary????????
WAIT... Didn't Perry say we did not need stimulus money because we had enough? Must have been dreaming
