The economics are simple on this one. When we pull back and don't spend, sales taxes in our cities and communities decline. So it should come as no suprise State Comptroller Susan Combs today reports
sluggish sales are hurting sales tax revenue for Texas cities and
Combs says local governments got $433 million from sales tax in
March. That's a drop from $665.6 million returned to local
governments last month.
The state's revenue from sales tax also dropped $180 million to
$1.74 billion in February.
Though revenue had been up in previous months, the comptroller's
office doesn't expect to see funding bounce back right away due to
the declining economy.
To comment, the following rules must be followed:
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to firstname.lastname@example.org. Please provide detailed information.