How Texas should spend its $33 billion surplus

We’re within the sunny cash days right here in Texas it appears, even when the grey skies of recession and inflation are looming on the horizon.

The major query state legislators must fear about now could be how we spend all of it. Hey, if you happen to’ve bought to have issues.

Comptroller Glenn Hegar has set the state’s budget surplus at $32.7 billion, a record-setting quantity flowing in from Texas’ continued progress, a spike in oil and gasoline revenues and, ahem, $8 billion in unspent federal stimulus.

Lots of fingers will probably be raised for some share of that cash, with loads of worthy causes and a few not-so-worthy ones.

Legislators have to strategy their plans for the surplus with clear ideas to keep away from the brilliant, shiny issues that too usually tempt them.

Principle one should be tax aid for Texans, and particularly owners. In cities throughout the state, single-family owners are bearing the brunt of supporting native authorities and funding schooling.

The Legislature delivered on critical tax aid within the final session, however the work isn’t accomplished. Using the surplus to decrease property tax payments whereas funding a better share of the price of schooling should be a precedence.

When it involves spending remaining funds, the state wants to take a look at its future improvement and plan accordingly.

Available water and water infrastructure are completely important to our capability to proceed to develop and prosper. Whether it’s growing new water sources, utilizing know-how to sluggish water loss or repairing damaged water methods, the state has to take a position now in our future water wants.

There may even be requires know-how investments and particularly broadband to construct up rural Texans’ web entry. That is a helpful place to place sources to make sure that each a part of our state has ample connectivity to take part within the fashionable financial system.

Finally, schooling funding is an space the place the state should spend surplus funds. That consists of cash that’s tied to tax aid or not. Teachers want greater pay, whereas faculty districts want versatile funding to supply tutoring and different instruments to assist our college students not solely restore misplaced studying however advance in ways in which we will measure.

It’s going to be an extended legislative session with loads of nonsense and political posturing.

Serious legislators should preserve targeted on guaranteeing that we use these flush occasions to organize for the long run, at the same time as they acknowledge that many taxpayers have had sufficient.

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