Texas Booming But Lawmakers Warned Of Economic 'Uncertainty'
AUSTIN (CBSDFW.COM/AP) — Texas' top financial official says heightened economic "uncertainty" involving everything from rising interest rates to unsettled trade policy is clouding the spending picture for state lawmakers who return to the Capitol this week.
Texas Comptroller Glenn Hegar said that a robust economy will give the Republican-controlled Legislature more spending power than in recent years. But he warned that a slowing global economy could have an outsize impact on Texas.
The Texas Legislature returns to work Tuesday. The budget forecast weighs heavily as lawmakers come back to tackle a number of big-ticket items from school finance to paying for the aftermath of Hurricane Harvey.
Hegar says the ongoing federal government shutdown is having no immediate impact on his estimates but that his office is watching the impasse closely.
(© Copyright 2019 CBS Broadcasting Inc. All Rights Reserved. The Associated Press contributed to this report.)