There's another coronavirus crisis that's about to hit Texas
AUSTIN — Even as state leaders grapple with the still-uphill task of containing the spread of coronavirus in Texas, they know full well another crisis caused by the virus lurks just around the bend.
Comptroller Glenn Hegar, the state's chief financial officer, issued on Thursday what sounded like an upbeat report on the fiscal health of Texas. "State Sales Tax Revenue Totaled $2.7 Billion in March" touted the headline.
That was almost 3 percent more than the state collected in March 2019. But in the paragraphs below painted a more detailed picture, and those details were bedeviling.
“We expect that future sales tax revenue will be drastically affected because much of the economy has been shut down to combat the coronavirus pandemic and because of the negative impact of a global oil price war,” Hegar said in his news release.
Read more: https://www.caller.com/story/news/columnists/john-moritz/2020/04/03/coronavirus-also-take-its-toll-texas-economy-budget/5116192002/
(Corpus Christi Caller-Times)
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