Texas' tough decision: How to spend its $32B surplus

Texas leaders are already piping in with some ideas for what to do with the historic surplus.

* Abbott pledged to provide the largest property tax cut in state history.
* Lt. Gov. Dan Patrick wants to raise the annual homestead exemption from $40,000 to $70,000, reducing the amount on which homeowners must pay property taxes.
* Texas public university leaders are seeking nearly $1 billion toward higher education in exchange for holding tuition flat for two years, per the Texas Tribune.
* Meanwhile, the Texas State Teachers Association wants some of the money to go toward schools, teachers’ pay and retirement.

(via VIP Gold member Robohogs on Twitter)

[Golly, it’s tough to live in Texas! Our property taxes are on the high side but not outrageously so, and we have no state income tax either. I’d love to see the first two proposals put into effect. I don’t think the mood is good for the universities, but I would bet that some of this will end up going into primary education — hopefully in vouchers or a funding-follows-the-student reform of some sort.

The chances for Axios’ progressive wishlist prevailing are two … slim and none. — Ed]