AUSTIN, Texas -- The Texas economy is humming along. That's expected to continue, but possibly at a slower pace.
That's the latest prediction from the Texas Comptroller.
Thursday, he assured state leaders there will be enough money to pay for the budget lawmakers approved last spring. There's also about $3 billion in cash left over. The state's Economic Stabilization Fund, better known as the Rainy Day Fund, will have more than $9 billion in it.
But Comptroller Glenn Hegar had a few words of caution moving forward.
“I do think next session is going to be a tight legislative session even with this better forecast today,” he said in an interview with Capital Tonight’s Karina Kling. “So that’s part of the caution because I do think with all the costs that they have and the improvements in public education that were needed I think it’s going to put a pretty good strain on the flexibility that they have next session.”
Hegar also said risks to this estimate include ongoing uncertainty about trade and national economic policy, slowing global economic growth, and volatility in energy prices resulting from instability and potential conflict in the Middle East.”
Click the video link above to watch our full interview with Hegar.