P.O. Box 12068, State Capitol
Austin, Texas 78711
Tel. (512) 463-0112
FOR IMMEDIATE RELEASE
July 20, 2020
AUSTIN, TX – Texas State Senator Jane Nelson, R-Flower Mound, today participated in a Legislative Budget Board meeting during which the Comptroller of Public Accounts provided an economic and revised revenue update indicating a $4.58 billion shortfall in the current 2020-21 biennium.
"It's going to be a difficult budget cycle, however, our commitment to fiscal responsibility over the years makes Texas better equipped than most states to overcome these financial challenges. We will need to tighten our belts, re-establish our priorities and scour the budget to identify savings and efficiencies. Tough decisions must be made, and I know we will get the job done," Senator Nelson, chair of the Senate Finance Committee, said.
To help address the shortfall, state agencies have identified 5% reductions in their current budget. Senator Nelson has advised all agencies that she will be using the principles of zero-based budgeting to develop the Senate's base budget. The Comptroller's revenue update is available online at comptroller.texas.gov.