Texas Legislators have a whole lot of budget surplus money. Let's see what they do with it.
On Day One of the 2023 Texas Legislative Session, there were good-hearted swearings-in amid a continued split between Governor Greg Abbott and Lieutenant Gov, Dan Patrick about what to do with the state’s estimated $32.7 billion bonus surplus and how to tackle property tax relief.
On Monday, Texas Comptroller Glenn Hegar released a report, projecting that the state would have nearly $33 million in extra cash at the end of the 2022-23 biennium. And despite the publicized discord over what to do with that surplus, Abbott said there was already a"coalescence" among both chambers of the Legislature"as to how to resolve the big issues we are facing and that should lead to an extraordinarily successful session.”
In the last legislative session, $10 billion of the then-budget surplus was divided between the state’s Economic Stability Fund and highway system. Jones said this could happen again this legislative session, with the final allocations up to the vote of the Legislature. “We still haven’t seen much of a consensus on what the priorities are,” Henson said. “For example, yesterday the comptroller provided a list of possible uses of the money and property taxes were a definite item but at the end of that list. While the comptroller was giving that speech, the lieutenant governor released a statement saying that property tax was the number one priority.”
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