The Fiscal Note: What happened to all that money?

By Editor | February 14, 2026 |

Friend,

Welcome to your Friday Fiscal Note.

Is the state government taking good care of your money?

This week, we expose where much of Texas’ massive budget surplus goes, and spoiler alert, it wasn’t back to the taxpayers.

Plus, Texas State Representative Ken King has been in office for over a decade, and although he positions himself as a champion of conservative values, a closer look reveals that he has not only consistently failed taxpayers, but in many cases, has actively opposed pro-taxpayer reforms.

And in case you missed it: we examined the growth of school funding in Texas, and debunk one of the most pernicious myths in Texas politics.

Check out all this, and more, below!

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A Decade of Government Growth: State Budget Surpluses

Over the last decade, the state of Texas has experienced unprecedented budget surpluses. These budget surpluses are state tax revenue that exceeds the normal needs of the state. Put another way, the people were “over-taxed.” Covering six legislative sessions since 2015, the total available state only (not federal funds) surplus funds totaled $151.7 billion…

Ken King: Failing Texas Taxpayers for over a Decade

Texas State Representative Ken King, a Republican from Canadian, Texas, has represented House District 88 since 2013. Over seven regular legislative sessions, King has positioned himself as a conservative representing Panhandle and South Plains values. However, a closer examination of his record shows a legislator who consistently burdens taxpayers, expands government, and undermines family values—far from the fiscal responsibility conservatives expect…

A Decade of Government Growth: Public School Spending

One of the most persistent lies in Texas politics is that Texas schools are “underfunded.”

In reality, public education expenditures are one of the largest items in the Texas budget. The significant increase in public education spending shown in this paper—both in current and real dollars—is one of the primary drivers of increased spending at the state level and property tax increases at the local level…