The problem is this: talking to State Comptroller Glenn Hegar about Texas’ $33 billion surplus.

HOUSTON – The state continues to think about what to do with a gigantic budget surplus of $33 billion. We sat down with the Chief Financial Officer (CFO) of the Texas Government, State Comptroller Glenn Hager to share his thoughts on this matter.

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Greg Grugan: “You are the chief financial officer (chief financial officer) of the 9th largest economy in the world and I think of you as the personal doctor of state government finance, give us an idea of ​​that.”

Texas Controller Glenn Hager:Indeed, the past year has been historic in terms of revenue flowing into the state treasury, due in part to a very heavy sales tax. Just for comparison, almost 60 percent of all tax revenue in the state comes from sales tax, so from a data point of view, this tax is more important than all others. Then the mineral extraction tax collections, gas, oil and both were very historical and then one of the aspects that I just keep highlighting is unfortunately we all paid a lot more for the items we buy now in over the past 18 years. months with record inflation in 40 years.

“So, kind of what that means, in a given month, just in the last two to three months, the average Texans are only spending on taxable items, which don’t include groceries, which don’t include drug items, because it’s not a sales tax, it’s only the sales tax they pay is about $4.5 billion a month more than it was on the same items a year ago. exceeded all expectations that we could expect here in Texas, but this is partly due to the fact that you and I pay more than a year ago.

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Grugan: “Everyone who enters this room and talks to you is waiting to hear the big number. What, according to your project, will be available?

Hegar: “We have a cash carry-over of almost $33 billion. This is truly a once-in-a-lifetime opportunity for the legislature to make the budget.”

Grugan: “We heard the Governor say that he would like a significant portion of this surplus to be recovered in some form in the form of a property tax credit. We also heard Speaker Phelan describe this as a unique opportunity to invest in much needed infrastructure. I know that part of your role is to give directions.”

Gegar: “They could almost put it off to be able to get a property tax break in two years, four years and six years, and that’s why it’s a historic opportunity, because it didn’t exist in previous legislative sessions.”

“I have several concerns, one of which is to make sure that we follow the ball, as such, that invests in this infrastructure, whether it is water on the roads or our electricity network, broadband, internet coverage, which 3 million people in this state we don’t have it at home, which is an astounding number. Also, understand that we must have quality civil servants, we must have teachers, we must have nurses, we must have skilled salesmen, who can come in and do basic plumbing and air conditioning work and carpentry, and I think we can invest in some of those areas as well.”

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Grugan: “I think I just heard that the Texans paid their taxes up front with inflation and our sales tax, so it’s their money.”

Hegar: “It’s not government money, it’s taxpayers’ money.”