Focus at Four: Economist discusses newly passed Proposition 4
BRYAN, Texas (KBTX) – Texas voters overwhelmingly passed Proposition 4 Tuesday. The state constitutional amendment raised the homestead exemption from $40,000 to $100,000. Dr. Raymond Robertson, an economist and professor at the Bush School of Government at Texas A&M, joined First News at Four to discuss why the proposition made the ballot and what comes next now that voters have passed it.
“Homeowners should be seeing relief very quickly,” Robertson said.
The new constitutional amendment is largely born from the surplus budget the state has been operating with. However, Robertson said money contributing to the surplus comes from an influx of people moving to Texas and COVID-19 money. COVID-19 funds will expire and not replenish, and continued population growth isn’t guaranteed.
Click on the video above to see the entire conversation.
