Texans face an affordability crisis with inflated bills, diminishing savings, and a looming U.S. recession. While this is mostly the result of Washington’s irresponsible policies, Texas governments can help by using massive surpluses to dramatically reduce the sixth most burdensome property tax system in the nation without harming the delivery of core services. The Foundation’s Lower Taxes, Better Texas plan accomplishes this by lowering maintenance and operations (M&O) property tax bills while adequately funding core services.
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