State agencies ordered to submit 5% budget cut plans

Asher Price  |  May 21, 2020

By Asher Price, includes “… It’s unlikely to be the last such order. State budget experts say that political leaders could demand further cuts once ongoing revenue hits come to light. The shuttering of restaurants and shops and a free fall in oil prices have meant twin shocks to the state budget. Of the $59 billion in tax revenue the state collected in 2019, roughly $1 of every $10 was from oil and gas and $6 of every $10 came from sales tax. …”

Read the full article on: Austin American-Statesman (Texas)

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