Austin Report

Gov. Rick Perry addressed a joint session of the Legislature on opening day.

The 83rd session of the Texas Legislature began this week, and it was a classic “good news – bad news” scenario with Comptroller Susan Combs reporting that increased state revenue forecasts mean that unlike the $27 billion shortfall faced in 2011, lawmakers are looking at $8.8 billion in unspent revenue in the current budget cycle. That represents a $35 billion swing in just two years so things are looking up, right?