Texas has an unprecedented budget surplus. What can be done with the billions of dollars?
When the Texas Legislature meets for the first time this year on Tuesday, the state will be in a position it has never been in before.
The state’s budget surplus is unprecedented, with estimates showing it to be at least $27 billion, and possibly as high as $35 billion.
Why is it so high?
Daniel Sánchez-Piñol, an economist with the conservative think-tank Texas Public Policy Foundation, said it’s all due to inflation.
“A lot of it comes from the sales tax, and because we are living in a high-inflation environment, that means the prices have gone up,” Sánchez-Piñol said. “And every time we make a purchase, we are paying the sales tax.”
Read more: https://www.kut.org/politics/2023-01-09/texas-has-an-unprecedented-budget-surplus-what-can-be-done-with-the-billions-of-dollars
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