Texas lawmakers are tackling the state’s budget, but despite a surplus of cash, State Comptroller Glenn Hegar is urging caution.
Hegar warned legislators that while Texas may enjoy a financial cushion, declining consumer spending and falling oil prices could strain the state’s revenue stream.
"For the average working family, trying to stretch the dollar is harder than it has been for quite some time," he said.
In Texas, sales tax makes up well over half of the state's revenue stream. Additionally, lower oil prices mean reduced tax contributions from the energy sector, another key source of state revenue.
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