Texas economy surges as California falters

 Fox Business:

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.

Hegar said consumers sent the Texas economy "surging" in all major sectors.

"But double-digit growth continued in receipts from home improvement and furniture stores, sporting goods and hobby stores, and online general merchandisers, segments boosted a year ago by pandemic spending patterns," Hegar said.

"Receipts from restaurants, another sector depressed a year ago, were also up sharply and well above pre-pandemic levels."

A budget analyst with the nonprofit policy institute Every Texan said Hegar’s report proves he’s been "very conservative" in his revenue projections. She said the state will end up with $2 billion more in sales tax than Hegar’s projected $38.6 billion of consumption tax.
...

Meanwhile, businesses in other states are closing up shop as the omicron variant surges in the nation. Restaurants and bars in San Francisco’s Bay Area are voluntarily closing on a temporary basis and laying off dozens of employees.
...

Traffic in Texas is pretty much back to normal and businesses are back to normal.  There are still some supply chain problems and empty shelves in the grocery stores, but the price of gas has retreated somewhat.

The increased sales tax receipts should help pay for the border wall Texas is constructing to deal with Biden's abysmal open borders policies.   

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