Texas is projected to have more than $18 billion in unspent money at the end of this two-year budget cycle, according to the state comptroller.
Texas Comptroller Glenn Hegar discusses the biennial revenue estimate with audience members at Texas Tribune’s Studio 919 in Austin on Jan. 9, 2023.
The new estimate projects an increase of 24.8% in available spending in this budget over the 2022-23 cycle that ended in September.for the cycle that ends in September 2025. They meet again to pass a new budget in January 2025 for the following two-year cycle.
During the regular session this year, lawmakers approved $4.5 billion in new spending for schools to use for programs like teacher pay raises, but it was tied to highly-divisive legislation that would have created a voucher program letting some parents use that money for private school tuition. Meanwhile, public education in Texas is reaching a financial crossroads, with lawmakers heading into one of the more contentious battles in the Legislature over how much money to give public school districts, how much pay to give teachers and how much private-school tuition to give to parents.about the revenue increase. “We need to invest in our teachers. We need to invest in those that are front line, that are educating the future workforce.
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