Texas Lawmakers Face $24 Billion Budget Surplus

Texas Comptroller Glenn Hegar announced a projected $194.6 billion for general fund spending in the upcoming 2026-27 biennium, accompanied by a surplus of nearly $24 billion, a decrease from last session's record surplus of $32.7 billion. Hegar emphasized that Texas remains in a strong financial position, expecting revenue growth despite a moderated pace compared to historical levels, largely due to conservative budgeting practices. Lawmakers, who convene for the new legislative session, face critical decisions on how to allocate these funds, with a focus on property tax relief and investments in education and infrastructure. Lt. Gov. Dan Patrick reiterated his priority is to continue property tax cuts and raise teachers' salaries. Meanwhile, fiscal experts advocate for addressing long-term infrastructure challenges, such as water supply and energy, to ensure sustainable growth. The upcoming legislative session will be pivotal in determining how Texas addresses both immediate needs and long-term investments.