Texas lawmakers will return to Austin this week with a budget surplus of nearly $24 billion, fueled by strong tax revenue. The surplus presents an opportunity to address key issues like soaring property and home insurance costs. Lawmakers will also consider further tax breaks for homeowners and funding for water supply and infrastructure.
Texas lawmakers will return to Austin this week with a budget surplus of nearly $24 billion, buoyed by growing tax revenue and a stalled school funding increase, Texas Comptroller Glenn Hegar said Monday. “ Texas is in good financial shape,” Hegar said when he announced the 2026-2027 biennium revenue estimate on Monday. Lawmakers will have $194.6 billion in funds available for general-purpose spending this session, a roughly 1% decrease from the money available during the 2024-2025 biennium.
Here's who would benefit from the Texas property tax relief plan advanced by GOP lawmakers Now, Hegar said, the Texas economy “will continue to normalize after the profound disruptions of the pandemic, dramatic recovery when COVID restrictions were lifted, and high inflation that accompany a booming economic growth.” Hegar attributed much of the state’s surplus to “prudent decisions by the Legislature last session to do one time expenses, not spend all the dollars, to be cautious,” he said.
BUDGET SURPLUS TEXAS PROPERTY TAXES HOME INSURANCE LEGISLATURE
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