January 15, 2025
On Monday, Comptroller Glenn Hegar released the state’s budget projections for the 2026-2027 biennium. From the announcement, Texas will have $194.6 billion in available revenue to allocate during the legislative session and a $23.76 billion surplus from the 2024-25 biennium.
While the Comptroller signaled a 1.1 percent decrease in revenue compared to the 2024-25 biennium, he gave assurance that Texas’ economy will continue to grow at the positive rate it has been following the pandemic and high inflation.
What the funds will be dedicated towards will be determined by the legislators. This week, the state legislature gaveled in for the 89th legislative session and is mandated by the Constitution to pass a balanced budget using these projections.
Many will be eyeing the surplus and what the lawmakers intend to do with this funding. According to Comptroller Hegar, public education funding, namely education savings accounts, will likely be the top priority. Property tax relief, grid improvements, water infrastructure investment, housing affordability, and additional public education could also be under consideration by lawmakers.
The Fort Worth Chamber supports, as outlined in the 89th legislative agenda, policies that will improve the vitality of the Texas economy. When it comes to infrastructure such as energy and water supply and transportation options, ensuring affordability, reliability, sustainability, and security are critical to a thriving and competitive business environment.
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