Texas May Forgo Muni-Note Sale Again in 2023 Amid Cash Buildup

Texas will probably forgo a sale of tax- and revenue-anticipation notes again this year because the state is so flush with funds it doesn’t need the short-term infusion of cash, state Comptroller Glenn Hegar said in an interview in Austin.

• The Lone Star State periodically sells billions of dollars of short-term debt to address temporary cash-flow mismatches
  • The last time it did so was when it sold $7.2 billion in 2020, according to data compiled by Bloomberg
• “We’ll run through that analysis this summer, but I bet it’s safe to say no,” Hegar said.
• He estimates the state will ...