Texas, No. 1 Exporting State, Has Much To Lose From Tariffs; Sales Tax Revenue Jumps
Dr. Dale Funderburk, Texas A&M-Commerce economics professor, says Texas is the top exporting state in the U.S., and so has a lot to lose from the tariffs threatened or imposed by President Trump. Texas produces 83 percent of the crude oil exported from the U.S. and 97 percent of the propane sold to China comes from Texas. On the other hand, Comptroller Glen Hegar says Texas will have an additional $2.8 billion in revenue from sales taxes over what was previously forecast in the next two-year budget cycle.