Texas legislators faced with $1 billion budget hole due to energy downturn

 

Just as Oklahoma legislators have to face dwindling income from the COVID-19 pandemic’s impact on oil and gas, Texas legislators have to deal with a nearly $1 billion hole in their budget.

Glenn Hegar, the Texas Comptroller revealed this week that the state of Texas is nearly $946 million in the red for the current fiscal year ending in August.

KWTX reported the legislature session got underway on Tuesday and state leaders now must create a new state budget for the next two years.

Click here for the KWTX story.

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