Texas Tech University

Texas sees sharp decline in tax revenue as coronavirus surge unleashes more budget uncertainty

Washington Post

July 7, 2020

Washington Post - Closed businesses and spending hikes have created budget problems across a number of states, and the issues appear to be getting worse

"It's dealt with the dual shock: the covid shock and the oil and gas industry shock," said Tim Fitzgerald, an economics professor at Texas Tech University. "Oil prices have rallied substantially ... but the activity in terms of new investment and drilling has not yet returned."

To read the full story, click here.