Pandemic Creates Nearly $1 Billion Hole In Texas Budget

Jan 11, 2021

  AUSTIN, Texas (AP) — The coronavirus pandemic has created a nearly $1 billion deficit in the Texas state budget. The forecast by Texas Republican Comptroller Glenn Hegar on Monday reflects how the nation’s energy hub remains hampered by a slow economic recovery and a half-million fewer jobs than a year ago. The deficit could result in cuts to state services, although many economists say that once coronavirus vaccines are more widely distributed, a broader recovery should take hold in the second half of the year. The GOP-controlled Legislature is scheduled to return to work Tuesday for the first time in two years.