Texas has nearly $24 billion surplus and projected to have more than $28 billion in rainy day fund

[useapen]

AUSTIN — Texas Comptroller Glenn Hegar announced Monday the state will end
its current budget with a surplus of $23.8 billion.

It's not as high as the record $32.7 billion the state had two years ago,
but lawmakers will still have a lot to consider as they develop the next
two-year budget. That's separate from what's called the state's rainy-day
fund, which is projected to have $28.5 billion by the end of the next two-
year budget in August 2027.

In all, lawmakers will have nearly $195 billion dollars in state revenues
to spend in the next two-year budget. Over the next 140 days, lawmakers
will have to develop and approve their spending blueprint.

We spoke with lawmakers about the surplus and how they believe the state
should spend it. Incoming freshman Representative, Shelley Luther, R-
Grayson County, said she is focused on property tax relief.

"Our property taxes are crazy high in Texas and people are getting taxed
out of their homes," said Luther. "You don't own your home in Texas ever.
You can pay it off, but if you don't pay your taxes, you don't have a
home. We have got to give them some property tax relief immediately,
that's first and foremost."

Representative Salman Bhojani, D-Euless, said he is looking at property
tax relief but also making key investments in the state's infrastructure.

"I think we need to think about long-term and short-term," Bhojani said.
"The long-term water infrastructure is in real need of repair and fixing.
I think that's going to cost $150 billion in the next 50 years. Our
schools are not funded well. They want them fully funded. Our teachers are
not getting enough salaries. We need to pay teachers a living wage. Then
we may think about giving property tax relief like we did last session."

There are thousands of bills that will be filed this legislative session,
but there's only one bill that is required by the Texas Constitution to
pass, and that's the two-year state budget.

Watch Eye On Politics at 7:30 Sunday morning on air and streaming

https://www.cbsnews.com/texas/news/texas-has-nearly-24-billion-surplus-
and-more-than-28-billion-in-rainy-day-fund/?intcid=CNR-02-0623

[Radio Gnome]

AUSTIN — Texas Comptroller Glenn Hegar announced Monday the state will end
its current budget with a surplus of $23.8 billion.
It's not as high as the record $32.7 billion the state had two years ago,
but lawmakers will still have a lot to consider as they develop the next
two-year budget. That's separate from what's called the state's rainy-day
fund, which is projected to have $28.5 billion by the end of the next two-
year budget in August 2027.
In all, lawmakers will have nearly $195 billion dollars in state revenues
to spend in the next two-year budget. Over the next 140 days, lawmakers
will have to develop and approve their spending blueprint.
We spoke with lawmakers about the surplus and how they believe the state
should spend it. Incoming freshman Representative, Shelley Luther, R-
Grayson County, said she is focused on property tax relief.
"Our property taxes are crazy high in Texas and people are getting taxed
out of their homes," said Luther. "You don't own your home in Texas ever.
You can pay it off, but if you don't pay your taxes, you don't have a
home. We have got to give them some property tax relief immediately,
that's first and foremost."
Representative Salman Bhojani, D-Euless, said he is looking at property
tax relief but also making key investments in the state's infrastructure.
"I think we need to think about long-term and short-term," Bhojani said.
"The long-term water infrastructure is in real need of repair and fixing.
I think that's going to cost $150 billion in the next 50 years. Our
schools are not funded well. They want them fully funded. Our teachers are
not getting enough salaries. We need to pay teachers a living wage. Then
we may think about giving property tax relief like we did last session."
There are thousands of bills that will be filed this legislative session,
but there's only one bill that is required by the Texas Constitution to
pass, and that's the two-year state budget.
Watch Eye On Politics at 7:30 Sunday morning on air and streaming
https://www.cbsnews.com/texas/news/texas-has-nearly-24-billion-surplus-
and-more-than-28-billion-in-rainy-day-fund/?intcid=CNR-02-0623

$24 billion surplus
+ $28 billion rainy day fund
---------------
= $52 billion that taxpayers are overcharged. Give them their money back.