Center Square
The Texas Legislature just found out it has a huge opportunity to correct its profligate spending failures made earlier this year. But instead, they’re gearing up to spend more at the expense of strapped taxpayers. This would be a fatal error for the Lone Star State.
Texas Comptroller Glenn Hegar recently released the Comptroller’s Revenue Estimate (CRE). This report acts like a financial checkup to confirm sufficient tax revenue available to cover expenditures based on the state’s balanced budget amendment.
The current two-year tax revenue for 2024-25 was updated higher to $194.6 billion available for general spending, an increase of 24.8% from the previous budget. This certified revenue estimate exceeds the $176.3 billion appropriated by the 88th Legislature for general purposes, resulting in a projected surplus of $18.3 billion.
This large amount is from a more vibrant economy than previously estimated and could go a long way to putting school property taxes on a path to elimination. Yet the Texas Legislature’s recent out-of-control spending habits indicate taxpayers probably won’t get more property tax relief than the minimal amount passed this year. more
I don’t mind them spending money, as long as it’s on the right things. Electrified fencing all along the border, machine gun turrets, and wide moats with alligators, dang, being a legislator ain’t that hard.
California had a big nest egg at one time recently. I think we got some of it back when covid hit, and they blew it on that. I won’t sell my home and buy a new one. If I did that, my tax bill would be 5 times what I’m paying now. Couple that with homeowners insurance and that’s a recipe for failure.
sphincter-phelan’s assholes will do anything