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Texas booming but lawmakers warned of economic 'uncertainty'

Texas booming but lawmakers warned of economic 'uncertainty'
7 years 3 months 6 days ago Monday, January 07 2019 Jan 7, 2019 January 07, 2019 12:01 PM January 07, 2019 in News - AP Texas Headlines

By PAUL J. WEBER
Associated Press

AUSTIN, Texas (AP) - Texas' top financial official says heightened economic "uncertainty" 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 Monday 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 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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