Analyzing 2020: The pandemic recession in Texas
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The Texas economy was one of the early victims of the coronavirus, as precautions like social distancing and staying close to home made it nearly impossible for many businesses to thrive. And in the interest of public health, a markets-oriented governor found himself stuck between fighting the spread of the coronavirus and keeping Texas businesses open to customers.
As the economy faltered, so did the underpinnings of the Texas state budget that depends on taxes and fees those businesses generate. The Legislature will return on the second Tuesday of January to figure out how to keep providing the services Texans want during a recession. Here are a few of my columns on the economy and the budget from the last year.
April 8: The pandemic’s impact on the Texas economy is a full-on recession, state Comptroller Glenn Hegar said. And hard financial decisions will mark the next session of the Texas Legislature.
April 28: Gov. Greg Abbott wants to reopen the state and to get the economy going. But he also wants to avoid widening the spread of the coronavirus. Texans are about to find out whether it’s possible to have it both ways.
May 8: The governor and other top Texas officials love promoting the rule of law, but they also love good politics. The civil disobedience of a Dallas beautician forced them to choose a favorite — and maybe hurry changes in pandemic policy.
June 15: When Texas stores closed and social distancing began at the beginning of the pandemic, sales naturally dropped. So did sales taxes, and local and state government revenues. But not everywhere, it turns out.
July 22: Now that the first official estimate of the coronavirus’ effect on the Texas economy is out, the hard work starts. Legislators have to figure out which parts of the state budget to cut and which parts to keep.
Dec. 14: Casinos are making a serious run at Texas lawmakers, hoping to open up to five gaming destinations in a state that has resisted them for years. But gaming in Texas hasn’t been expanded in almost three decades.
Disclosure: The Texas Comptroller of Public Accounts has been a financial supporter of The Texas Tribune, a nonprofit, nonpartisan news organization that is funded in part by donations from members, foundations and corporate sponsors. Financial supporters play no role in the Tribune’s journalism. Find a complete list of them here.
Source: Texas Tribune