Lawmakers have gathered in Austin for the legislative session and have an unprecedented challenge to contend with that is what to do with a huge number of excess tax dollars.
State Comptroller Glen Hager, considered the Chief Financial Officer of Texas, reported a gigantic budget surplus that’s far larger than previously projected.
The reason state coffers are bulging is pretty simple – when inflation drove up the cost of everything Texans buy, including energy, it also drove up revenue from state sales and excise taxes.
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