Texas will have an $18.6 billion surplus and avoid a recession, comptroller projects

Texas Comptroller Glenn Hegar discusses the biennial revenue estimate with audience members at Texas Tribune’s Studio 919 in Austin on Jan. 9, 2023 (Credit: Pu Ying Huang/The Texas Tribune)

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Texas is likely to avoid an anticipated recession and, on the contrary, is projected to have more than $18 billion in unspent money at the end of this two-year budget cycle, thanks to an unexpected increase in state revenue in recent months, Comptroller Glenn Hegar said Thursday.