Texas sales tax revenues are taking a hit as a result of the crash in oil prices and pandemic-related business shutdowns. Texas Comptroller Glenn Hegar reported Monday that the state's sales tax revenue was two-point-six-billion-dollars in May, off more than 13-percent from May 2019. That's the sharpest year-to-year drop in more than ten years, since the Great Recession. May was the second straight month of rapidly declining state sales tax revenues, which make up a large part of the state budget. Other taxes and fees also fell.
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