Texas Announces ‘Unprecedented’ Budget Surplus

Officials now at odds with what to do with all the money!
AUSTIN, TX - SEPTEMBER 20: The Texas State Capitol is seen on the first day of the 87th Legislature's third special session on September 20, 2021 in Austin, Texas. Following a second special session that saw the passage of controversial voting and abortion laws, Texas lawmakers have convened at the Capitol for a third special session to address more of Republican Gov. Greg Abbott's conservative priorities which include redistricting, the distribution of federal COVID-19 relief funds, vaccine mandates and restrictions on how transgender student athletes can compete in sports. (Photo by Tamir Kalifa/Getty Images)

At a glance

  • Texas announced that the state government hauled in a record-setting budget surplus totaling $32.7 billion.
  • Nearly $4 billion in revenue that was traded for federal COVID relief funds used previously is included in the surplus.
  • Also included is $4.3 billion in education savings derived from an increase in real estate values, which led to higher-than-anticipated revenues from property taxes.

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