July 17, 2017      1:26 PM

Greenfield: Good News and Not So Good Revenue News

Our resident number cruncher Dr. Stuart Greenfield breaks down the revue picture as legislators settle in for the next 30 days in Austin

As legislators gear up with anxious anticipation for the special session starting tomorrow, they can cap their Valium/Xanax containers. 

On July 5, Comptroller Hegar released a press release indicating substantial growth in sales tax revenue for June. Also noted was a 31.5 percent increase in monthly severance tax collections,  The substantial increases in both these taxes resulted in the growth rate (3.1 percent) in General Revenue-Related (GRR) receipts now exceeding (see Figure 1) the BRE estimated growth rate (1.7 percent) in FY17 GRR revenue.  This 1.4 percentage point increase in GRR is the good news for our legislators.

The full column by Dr. Stuart Greenfield is in the R&D Department.

By Dr. Stuart Greenfield

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