Texas Comptroller Glenn Hegar revised the Certification Revenue Estimate (CRE) and now projects a fiscal 2021 ending shortfall of $4.58 billion.
The shortfall, which Hegar attributed to the COVID-19 pandemic and recent volatility in oil prices, is a decrease from the $2.89 billion positive yearend balance originally projected in the October 2019 CRE.
In a July 20 letter to state leadership, Hegar…