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Texas Sees Deficit Disappear as Tax Revenue Surges on Reopening

May 3, 2021, 8:24 PM

Texas anticipates an unexpected budget surplus as tax-collections rebound along with the nation’s economy, causing it to boost revenue forecasts for the next two years.

The state expects to end the current budget cycle in August with a $725 million surplus, a sharp reversal from the nearly $1 billion deficit it was expecting in January, according to estimates released Monday by Comptroller Glenn Hegar.

The state now projects it will have $115.7 billion of revenue available for general-purpose spending during the biennium that begins in September, about $3 billion more than estimated in January.

“The state’s economy is...

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