Texas projects nearly $5B budget shortfall due to pandemic

State & Regional

(AP GraphicsBank)

Texas’ budget forecast has plummeted to a projected $4.6 billion shortfall as the coronavirus pandemic and low oil prices take a heavy toll on one of America’s largest economies.

The new assessment Monday from Republican Comptroller Glenn Hegar is a sharp reversal from an October forecast that had Texas in line for an estimated $3 billion surplus.

State officials cautioned the bleak new budget projections were fraught with uncertainty given that the virus continues to spread in Texas, which for a month has been one of the hardest-hit parts of the U.S. 

(Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


EverythingLubbock.com continues ongoing coverage of the coronavirus (COVID-19) as it impacts Lubbock, the South Plains region, Texas and the U.S.


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