Texas’ economy is “surging” with no signs of slowing down as businesses in other states such as California voluntarily close during the spike in cases.
“With Christmas shopping jump-started by the early start of holiday promotional pricing weeks ahead of Black Friday, and despite supply chain clogs and household budgets pressured by rising prices for food and gasoline, consumer spending drove double-digit increases in receipts from retail trade,” Republican Texas Comptroller Glenn Hegar said, according to the Dallas Morning News.
Texas brought in more sales tax than ever before in December, hitting $3.6 billion. Texas recorded only four months before the pandemic when sales taxes collected $3 billion or more. Now, the state has recorded nine consecutive months, from April to December, of hitting or exceeding the benchmark.
www.foxbusiness.com/economy/texas-economy-surging-omicron-california-businesses-close