Texas Announces ‘Unprecedented’ Budget Surplus

  • 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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