Sales tax revenues fall sharply in Texas

July 12, 2009 4:52:16 AM PDT
The state's most recent monthly sales tax revenues dropped 11.2 percent from a year ago, the latest sign that the recession is infecting Texas. The $1.57 billion collected in June, which reflects sales in May, is off from the $1.77 billion collected in the same month a year ago.

One budget official estimates that sales tax collections are $100 million below projections and could fall $550 million short when the fiscal year ends in two months. Eva DeLuna Castro of the nonpartisan Center for Public Policy Priorities says weak consumer spending is the cause of the shortfall.

Sales tax payments to local cities and counties also declined 8.8 percent for July to $426.7 million. The payments were based on May sales.

      QUICK HEADLINES | MORE TEXAS | GET NEWS ALERTS
-----------------------------------------------------------------------------------------------
ABC13 SOCIAL NETWORKING
Find us on Facebook® | Follow us on Twitter | More social networking
-----------------------------------------------------------------------------------------------
MORE FROM ABC13
ABC13 widget | Most popular stories | Street-level weather
ABC13 wireless | Slideshow archive | Help solve crimes
-----------------------------------------------------------------------------------------------


Load Comments