The pandemic has devastated the Texas economy. The state comptroller says that will mean billions of dollars less than expected for the current budget. But state agencies haven’t received any orders to cut their spending.
Glenn Hegar
Posted in
Coronavirus in Texas
Texas sales tax revenues fall by 9.3% in April
For the past several weeks, the comptroller has been referring to the state of the economy as a recession. The latest sales tax figures give the first glimpse of how much the economic downturn will hurt the state budget.
Posted in
Coronavirus in Texas
Analysis: Energy isn’t the whole Texas economy, but it’s a critical piece
This week’s drop in crude oil prices signals trouble for state and local government budgets. Energy isn’t the biggest source of tax money in Texas, but the big one — the sales tax — is already falling.
Posted in
Coronavirus in Texas
Analysis: A fast drop for the Texas economy — and for the state budget
The pandemic’s impact on the Texas economy is a full-on recession, state Comptroller Glenn Hegar said Tuesday. And hard financial decisions will mark the next session of the Texas Legislature.
Posted in
Economy
Texas’ budget could take massive hit as coronavirus crisis continues unfolding, lawmakers learn
Texas Comptroller Glenn Hegar told House members that it’s too soon to make detailed forecasts, but both the state budget and Economic Stabilization Fund could be drastically revised down.
Posted in
Coronavirus in Texas
Texas restaurants are asking for tax relief from the state. But officials say they need those revenues during the pandemic.
Restaurant owners say that delaying sales tax payments could help them ride out the pandemic. State officials, however, say that those revenues help keep hospitals and emergency services running.
Posted in
State Government
Analysis: The politics of paying one Texan’s local sales taxes to another Texan’s city
A longstanding economic development incentive tied to local sales taxes has run into a hurdle, as voters find out some of their local dollars are ending up in faraway localities. Blame the internet.
Posted in
State Government
Analysis: A Texas sales tax rule hinges on a question: What’s local?
This is the kind of question that makes tax consultants wealthy: If a Texan buys something online, should the local sales tax go to the seller’s city or the buyer’s?
Posted in
Demographics
Big Tex and Dickies are a perfect fit, but Uvalde factory’s fate is another story
Iconic Texas-based clothing maker Williamson-Dickie made headlines last year when it announced it was closing its last U.S. factory, in Uvalde. While that plant has been repurposed and still employs several residents, the city is grappling over changes to a key partner in its community.
Posted inState Government
Texas on pace to collect more tax revenues than predicted, but state comptroller has a few words of caution
Glenn Hegar told lawmakers they’ll end the current budget with more money on hand than expected, and with a large balance in the state’s rainy day fund.
