Comptroller projects a 2021 shortfall of $4.6 billion

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…

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