Texas Public Policy Foundation: Forged in the Spirit of 1836
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New data from the Bond Review Board (BRB) show that Texas’ local governments have amassed debts totaling more than $338 billion, an increase of just over $5 billion from the last fiscal year. That works out to be roughly $12,250 owed per Texan.
Among the most heavily indebted local governments are cities and school districts, which owe a combined $223.6 billion or two-thirds of the total.
The new figures put renewed emphasis on the need for reform, like the institution of ballot box transparency and putting tighter controls on the issuance of nonvoter approved debt.