- Gov. Abbott and Lt. Gov. Patrick were each sworn-in to their third terms in office last Tuesday during Inaugural events. In their respective remarks, both leaders once again called for major property tax relief in light of the record budget surplus.
- Both the Senate and the House released their budget bills this week.?SB 1 by Sen. Joan Huffman (R—Houston)?and?HB 1 by Rep. Greg Bonnen (R—Friendswood)?were both filed on Wednesday. While both chambers have recommended a whopping $130.1 billion in appropriations from General Revenue Funds, the figure is still far below the amount of cash the state has on hand.?Restrained by various spending limits and with the Rainy Day Fund almost maxed out, the Legislature’s biggest problem this budget cycle is having too much money.
- Key?funding priorities are funded heavily in the budget, including border security, property tax relief, and mental and behavioral health. We also expect a supplemental budget to be released in the coming weeks with additional spending for the current fiscal year on big ticket items such as cybersecurity, water infrastructure, and behavioral health.
- Around the Capitol, the?Public Utility Commission in a unanimous 5-0 vote agreed to move forward with the Performance Credit Mechanism (PCM) market redesign?proposal.
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