DALLAS — To say Texas lawmakers have a pile of cash to back up their legislative dreams would be a massive understatement.
In fact, the budget surplus here in Texas is so large, a record $32.7 billion, it’s more than the entire budget in 29 other states.
“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 representative Trey Martinez Fischer told us on Y’all-itics.
And that windfall will be the root cause of much of the friction and fighting this session as lawmakers decide who gets how much.
One of the top priorities will be an attempt to lower our property taxes.
Lt. Gov. Dan Patrick told us recently he wants to raise the homestead exemption for Texas homeowners from $40,000 to $60,000, maybe even higher this session. The homestead exemption reduces the taxable value of a Texan’s primary residence.
State Rep. Craig Goodman says to also expect debate over appraisal reform, as many homeowners never actually feel a property tax reduction because the value of their home keeps rising, zeroing out any savings.
The Fort Worth Republican was just elected chair of the GOP caucus in the Texas House, so his voice will be influential this session.
“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 said.
Meantime, as the new chair of the Democratic caucus in the Texas House, Martinez Fischer will also hold a key role in the debate.
And the San Antonio Democrat tells us that while property tax cuts sound great, they wouldn’t benefit all Texans, such as renters.
He sees the budget surplus as a chance to help many Texans suffering through difficult financial times, so he would like to discuss sending inflation assistance payments directly to Texans and let them choose how to spend it.
“We know times are tough. We’re going to give this to you,” the Democrat said. “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 budget, the Jasons are also seeing some political flashpoints emerge that could dominate the session – from whether to ban minors from social media to potentially raising the minimum age to purchase a firearm. Listen to the full episode of Y’all-itics to learn more. Cheers!