AUSTIN- Today, TPPF’s Taxpayer Protection Project released a report analyzing the May 2024 Bond Elections. This report examines the true cost of bond propositions considered in the May 2024 election cycle and offers recommendations to improve debt transparency and accountability.
Texas voters considered almost 325 bond propositions on May 4th, 2024. Of those, approximately 260 measures were approved. The total repayment cost for every bond measure proposed was $38.8 billion. The total repayment cost for every bond measure passed is $33.3 billion. The passage rate for bond propositions during the May 2024 election cycle was 79.9%. Texas’ heightened debt environment should prompt the Legislature to consider reforms to improve debt transparency and accountability.
“Skyrocketing local debt threatens Texas’ low tax, limited government model. It’s critical that we get this borrowing binge under control through strong, new legislation requiring transparency, accountability, and prudence” said TPPF’s James Quintero.
Read the full report here.
Texas Public Policy Foundation is a non-profit free-market research institute based in Austin that aims to foster human flourishing by protecting and promoting liberty, opportunity, and personal responsibility.