This series evaluates five recommendations designed to create a more accountable, transparent budget process. The reforms include: strengthening the current spending limit; returning surplus revenues to taxpayers; ensuring dedicated funds are used only for their original purpose; providing greater detail to the state budget; and, posting agencies checkbooks online for public review.
Taxes & Spending
The Staggering Amount of New Debt Added in May 2026
On May 2nd, 2026, Texas voters did something astonishing. They approved more new debt in that single afternoon than the entire gross domestic product of the country of Uganda. The $76.4 billion in new principal debt authorized that day won’t be issued tomorrow; but with voter approval in-hand, local governments now have the go-ahead to borrow more and add onto the $368.3 billion in principal debt already owed. Of course, these totals...
July 21, 2026