Friday, March 29, 2024

How will Texas lawmakers spend an extra $32 billion? | National News


DALLAS — To say Texas lawmakers have a pile of money to again up their legislative desires can be an enormous understatement.

In reality, the price range surplus right here in Texas is so giant, a report $32.7 billion, it’s greater than all the price range in 29 different states.

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“So, as we go to work this session, the number one thing we have to talk about is there are about 33 billion reasons as to why we should be bipartisan and pragmatic,” Democratic state consultant Trey Martinez Fischer instructed us on Y’all-itics.

And that windfall will be the basis reason for a lot of the friction and combating this session as lawmakers resolve who will get how a lot.

One of the highest priorities will be an try and decrease our property taxes.

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Lt. Gov. Dan Patrick instructed us not too long ago he needs to boost the homestead exemption for Texas householders from $40,000 to $60,000, possibly even larger this session. The homestead exemption reduces the taxable worth of a Texan’s main residence.

State Rep. Craig Goodman says to additionally anticipate debate over appraisal reform, as many householders by no means really really feel a property tax discount as a result of the worth of their house retains rising, zeroing out any financial savings.

The Fort Worth Republican was simply elected chair of the GOP caucus within the Texas House, so his voice will be influential this session.

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“We’re all in favor of giving property tax cuts. We know that’s one of the biggest complaints our constituents talk about every single day with us. We feel it too. But we have to make it sustainable,” Goldman stated.

Meantime, as the brand new chair of the Democratic caucus within the Texas House, Martinez Fischer will additionally maintain a key position within the debate.

And the San Antonio Democrat tells us that whereas property tax cuts sound nice, they wouldn’t profit all Texans, equivalent to renters.

He sees the price range surplus as an opportunity to assist many Texans struggling by way of troublesome monetary instances, so he want to talk about sending inflation help funds on to Texans and allow them to select the best way to spend it.

“We know times are tough. We’re going to give this to you,” the Democrat stated. “If you want to buy medicine, you can buy medicine. You want to cut your taxes, you can cut your taxes. You want to help your son or daughter pay that high college tuition? We’ll give you that flexibility.”

Beyond the price range, the Jasons are additionally seeing some political flashpoints emerge that would dominate the session – from whether or not to ban minors from social media to doubtlessly elevating the minimal age to buy a firearm. Listen to the total episode of Y’all-itics to study extra. Cheers!



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