If Texas’ budget surplus were distributed directly to Texans, it could pay for 12 years of school lunches, seven months of rent or 11,000 miles of travel. Here’s how to put the big number into perspective.
, The Texas Tribune’s daily newsletter that keeps readers up to speed on the most essential Texas news.Thanks to taxpayers, that’s the whopping budget surplus Texas will have toward the end of 2023.
The cash surplus grew over the past 18 months because of historic growth in tax collections by the state. So when the 2022-23 budget was passed two years ago, the projected state revenue for that two-year time frame was about $119 billion. The total estimated general revenue-related funds for the 2022-23 biennium is now $149 billion.
Texas’ overall budget is the third biggest after California and New York, and followed by Illinois, Pennsylvania, and Florida, according to aThe budget surplus is bigger than the 2021 gross domestic product, or the total output of goods and services, of 18 metropolitan areas, including McAllen, Corpus Christi, and Beaumont-Port Arthur, according to the U.S. Bureau of Economic Analysis.
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