Economy
Texas Sees Historic 26% Surge in Tax Revenue as Inflation Soars
A pedestrian crosses a bridge in Austin, Texas.
Photographer: Sergio Flores/BloombergTexas’s tax revenue is rising by historic amounts, in part as economic growth and soaring inflation drive up the price of goods.
The Lone Star state collected $77.2 billion in a category known as all funds tax collections in the fiscal year through August, up 25.6% from the same period a year earlier, according to a release Thursday by state Comptroller Glenn Hegar.