Tomlinson: Texas has a $27 billion windfall. Can we trust lawmakers to invest it wisely?
for the government of Texas, and our elected officials must decide what to do with it.
Texas lawmakers are often poor with money. They overestimate revenues and underestimate expenses when they meet in Austin for the 140-day session every two years. Almost every time, they underfund Medicaid, the state’s stingy health care program for the impoverished. Remember when gasoline cost $4 a gallon and natural gas was double the current price? Exxon Mobil, Chevron and the other oil companies were not the only beneficiaries., so when commodity prices spike, so does the state's income.
Two facts are important to remember about the $27 billion. First, that’s a lot of money when you consider lawmakers only had $115 billion in discretionary spending for 2022-23. Most of Texas’s two-year, $245.3 billion budget goes to programs that lawmakers do not control.
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