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News Link • Economy - Economics USA

Mish: Texas Sales Tax Collections Stagnating

In Texas, 14 months into an alleged recovery (with 14 straight months of declining tax collections along the way), Texas is just now "break even" on tax collections in aggregate, with its largest cities still sporting huge declines coupled with 16 months of declining tax collections. Congratulations Texas, you are now at "break even" just as the economy is poised for another pullback, led by declining home sales and home prices.

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