Texas Could Have Almost $5B Deficit

(Austin, TX) — Texas could be facing an almost five-billion-dollar tax collection deficit next fiscal year.

Comptroller Glenn Hegar says the drop in Certification Revenue Estimate collections is due to the coronavirus pandemic and oil price volatility. Hegar noted CRE could drop even further if more coronavirus restrictions have to be put in place.

Texas is still expected to have almost $111 billion in funds available for the next legislative session.