Texas Entering New Budget Cycle With 8.8 Billion Dollar Surplus - kcentv.com - KCEN HD - Waco, Temple, and Killeen

(KCEN) -- There is good news for Texans and the future of our state.

According to the state comptroller, Texas will enter the next budget cycle with a nearly 8.8 billion dollar surplus.

That's because of better-than-expected revenue collections from sales taxes, oil production and vehicle sales taxes.

This comes after deep cuts to education and spending in the last state legislative session.

Texas lawmakers returned to Austin today to begin the 2014-2015 legislative session.