TPPF: Local Debt Grows to More Than $365 Billion in 2019

AUSTIN— Using the Public Information Act, the Texas Public Policy Foundation secured the release of new information from the Bond Review Board revealing local governments are awash in public debt. According to the agency, local debt totaled $365.3 billion in FY 2019, an increase of almost $11 billion over the prior year. Since FY 2017, Texas’ local governments have added more than $27 billion to the total. On a per capita basis, Texas’ local governments have accumulated enough debt to cost every man, woman, and child in Texas more than $12,500.

“Texas’ local governments are drowning in a sea of red ink,” said TPPF’s James Quintero. “New data reveals that local debt now totals $365 billion, representing an increase of almost $11 billion since last year and more than $27 billion added since fiscal year 2017. By running up the taxpayer credit card like this, local officials are courting higher taxes, bigger government, and unsustainable spending habits. Texas lawmakers cannot allow the status quo to continue. We need big, bold action from the statehouse next session.”