Texas Has No Surplus!

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Eva DeLuna Castro /(512) 320-0222 x 103

February 16, 2006

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With a special session on school finance looming, some are interested in buying down local school property taxes using part or all of the $4.3 billion that the Comptroller has said is “available,” thus reducing the need to increase state taxes. This Policy Page explains why the $4.3 billion estimated to be available to fund the 2006-07 budget is not surplus money, and why it would be a bad idea to use any of the $4.3 billion to buy down school property taxes.