Texas taxes

Texas will have more than 30 new laws on the books come New Year's Day, touching on everything from artificial intelligence regulation to property tax exemptions.

The governor must first win over lawmakers who have rejected similar proposals. The state may have to backfill more than $17 billion for school funding alone.

Texas Attorney General Ken Paxton pointed to bill passed earlier this year focused on unlawful tax increases.

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.