Texas economy hums, adding $14B to state surplus amid record-breaking sales taxes

Texas economy hums, adding $14B to state surplus amid record-breaking sales taxes
Texas by Enrique Macias is licensed under Unsplash unsplash.com
AUSTIN — Texas has so completely recovered from the economic slump caused by COVID-19 that state tax receipts have set new records, adding $14 billion to an already swollen surplus, Comptroller Glenn Hegar said Thursday.

Inflation is a factor but so is rapid population growth and a thriving energy sector, Hegar said.

“I round it down to $40 billion,” Hegar said of his projected surplus, shortly before he formally advised GOP state leaders of the good news in a letter updating his “certification revenue estimate” of eight months ago.
Texas by Enrique Macias is licensed under Unsplash unsplash.com

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