Texas financial chief announces $2.86 billion revenue shortfall during next two years

Today, the state’s chief financial officer announced the 85th Legislature will have roughly $105 billion to use in the coming two years, down $2.86 billion from the previous biennium. Comptroller of Public Accounts Glenn Hegar pointed to a decrease in sales tax revenue and struggles in the oil and gas industry as reasons the lawmakers will only have $104.87 billion to budget this legislative session, which begins Tuesday. Hegar said 2016 was the third time in the past eight years that sales tax revenue decreased. The other years were 2009 and 2010 because of the Great Recession. In addition, the […]

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Source: Community Impact- Round Rock