How does Texas school funding stack up against other states?

State rankings for school funding vary by year and methodology used, but Texas has consistently trailed most states in per pupil education spending. Texas was already ranked 45th in 2008, well before the 2011 Legislature slashed an additional $5.4 billion from funding for public education.

Texas schools are in financial crisis due to a $27 billion hole in the most recent state budget. In short, the state simply did not have enough money to continue funding public education at current levels without increasing taxes, which many elected officials had sworn not do. Instead, these legislators chose to slash $5.4 billion from public education, along with huge cuts to other vital programs.

The Rainy Day Fund, formally known as the Economic Stabilization Fund, is the state's savings account. The money comes from excess oil and gas production taxes and some unspent general revenue. It is intended to provide a cushion for unexpected budget shortfalls, but requires a two-thirds majority vote of the legislature to use it.

As the state budget crisis forces more Texas schools to close their doors, expect an attendant loss in property values for Lone Star homeowners. A number of academic studies have found that what common sense already tells us: when a school closes, property in the surrounding area loses value.

When the 2011 Texas Legislature eliminated all state grants for full-day pre-Kindergarten programs, it was a body blow to many struggling Texas families. But the harm to our state's economic and social future may be far greater.

Education dollars invested now pay big dividends later - and nowhere is this benefit more evident than in high quality pre-Kindergarten programs. Numerous studies show that, for every $1 invested in high quality pre-K, taxpayers save up to $7 in future costs by reducing the need for remedial and special education, welfare, and criminal justice services.