I. The State Budget in Perspective
Boosted by strong oil and gas, sales, and franchise tax collections, total tax collections for FY 2018 significantly exceeded the projections in the Comptroller’s 2018-19 Biennial Revenue Estimate (BRE), as illustrated in the following table:
Tax collections for the last five fiscal years indicate that Texas has rebounded from the slump seen in FYs 2016 and 2017. With its strong performance in FY 2018, Texas has seen its overall growth in tax collections exceed $4.5 billion since FY 2014.