Texas taxes

Gov. Greg Abbott formally announced his fourth gubernatorial run in Houston on Sunday. The incumbent Republican, who currently has around $87 million in his campaign war chest, will face two opponents in the 2026 party primary election.

While most proposed amendments on this year's ballot focused on taxes, voters also showed strong support for investing in Texas' network of technical colleges and dementia and Alzheimer's research.

Building out the growing financial hub in Dallas – dubbed Y'all Street – is something state lawmakers are heavily invested in, which is why Texans will be voting Nov. 4 on a handful of constitutional amendments that could help boost the finance industry in the state.

Small sellers say the new tax on fees cuts into already thin margins while the comptroller argues state law requires online marketplaces be taxed like any other data processor.

New laws range from school vouchers and water infrastructure funding to a ban on city and county-funded abortion travel funds.

Texas cities and counties have already had their budgets compressed by a variety of factors, including the state's current property tax limits.

The GOP tax and spending bill raises the child tax credit from $2,000 to $2,200, adjusts it annually for inflation, and enshrines it permanently into U.S. tax code. However, another provision requires that the child and both parents all have Social Security numbers.

One of the most highly debated bills in Texas' 2025 legislative session has passed both chambers and heads to Gov. Greg Abbott for his signature. House Bill 2 provides $8.5 billion for the state's public school system.

Senators will hold a hearing Thursday on their counterproposal to the House's school funding bill. House Democrats and public education advocates have criticized the upper chamber for not moving faster to advance the legislation.

One proposal would allow the attorney general to sue cities and freeze sales tax revenues for up to 90 days.