TX Comptroller: Budget Faces $1 Billion Shortfall, Not As Bad As Expected

State Comptroller Glenn Hegar says the state's budget faces a shortfall of nearly a billion-dollars, which is not as bad as earlier forecast. Hegar on Monday delivered the traditional two-year forecast of the state's economy prior to the new legislative session, which starts today. The projected 950 million dollar budget gap is much less than the 4.5 billion dollar shortfall forecast at the beginning of the pandemic. The pandemic shutdowns slashed sales tax revenues, and the oil and gas industry has suffered this year as well.

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