Texas · U.S. Senate · Tuesday, November 3, 2026

Where do the candidates stand on the economy and taxes?

Ken PaxtonRepublican
James TalaricoDemocrat

Part of the full Texas U.S. Senate comparison · Last reviewed October 19, 2026

Economy & Taxes

Each position is labeled by what it rests on: a campaign proposal, a public statement, a past action such as a vote or lawsuit, or an enacted policy. Where nothing is documented, the page says so.

Documented positions

Proposes tax deductions, a doubled child tax credit and permanent Trump accounts; privately said deficit reduction requires "reasonable cuts to mandatory spending," later saying he would protect Social Security.

Show the evidence (2)

Campaign proposalJuly 31, 2026
His economic plan, which he calls "Protecting the Texas Promise," would double the maximum child tax credit to $4,400 per child, make the Trump accounts savings program for children permanent, and add new tax deductions for health care, housing and family expenses. 2 sourcesPaxton unveils economic plan tied to tax breaks in Senate race (opens in a new tab)The Texas Tribune · July 31, 2026 · NewsTexas U.S. Senator — VOTE411 Voter Guide (opens in a new tab)League of Women Voters Education Fund (VOTE411) · 2026 · Candidate questionnaire
Public statementSept. 24, 2026
At a private Sept. 24, 2026 fundraiser with Washington lobbyists, in a recording made by an attendee who opposes him and obtained by The Texas Tribune, said "reasonable cuts to mandatory spending" were needed to reduce the deficit, without naming programs, and that tax cuts would "generate more revenue"; in a later statement he said he would protect Social Security and called the audio "cherry-picked." Source“We have to suck it up”: Ken Paxton privately suggests cutting federal benefit programs to reduce national deficit (opens in a new tab)The Texas Tribune · Oct. 8, 2026 · News

Campaign proposalJuly 31, 2026
His economic plan, which he calls "Protecting the Texas Promise," would double the maximum child tax credit to $4,400 per child, make the Trump accounts savings program for children permanent, and add new tax deductions for health care, housing and family expenses. 2 sourcesPaxton unveils economic plan tied to tax breaks in Senate race (opens in a new tab)The Texas Tribune · July 31, 2026 · NewsTexas U.S. Senator — VOTE411 Voter Guide (opens in a new tab)League of Women Voters Education Fund (VOTE411) · 2026 · Candidate questionnaire
Public statementSept. 24, 2026
At a private Sept. 24, 2026 fundraiser with Washington lobbyists, in a recording made by an attendee who opposes him and obtained by The Texas Tribune, said "reasonable cuts to mandatory spending" were needed to reduce the deficit, without naming programs, and that tax cuts would "generate more revenue"; in a later statement he said he would protect Social Security and called the audio "cherry-picked." Source“We have to suck it up”: Ken Paxton privately suggests cutting federal benefit programs to reduce national deficit (opens in a new tab)The Texas Tribune · Oct. 8, 2026 · News

Proposes what he calls a cost-of-living tax cut, paid for with higher taxes on large corporations and the wealthiest Americans.

Show the evidence (1)

Campaign proposal
Proposes expanding the Child Tax Credit and Earned Income Tax Credit, restoring the ACA premium tax credits and providing a tariff rebate, paid for by closing tax loopholes, raising the corporate tax rate and raising the tax on corporate stock buybacks, which his campaign says would make “the wealthiest Americans and giant corporations pay their fair share.” 3 sourcesJames Talarico on Taxes & Cost of Living (opens in a new tab)Talarico for Texas · CampaignJames Talarico (opens in a new tab)Ballotpedia · ReferenceTexas U.S. Senator — VOTE411 Voter Guide (opens in a new tab)League of Women Voters Education Fund (VOTE411) · 2026 · Candidate questionnaire

Campaign proposal
Proposes expanding the Child Tax Credit and Earned Income Tax Credit, restoring the ACA premium tax credits and providing a tariff rebate, paid for by closing tax loopholes, raising the corporate tax rate and raising the tax on corporate stock buybacks, which his campaign says would make “the wealthiest Americans and giant corporations pay their fair share.” 3 sourcesJames Talarico on Taxes & Cost of Living (opens in a new tab)Talarico for Texas · CampaignJames Talarico (opens in a new tab)Ballotpedia · ReferenceTexas U.S. Senator — VOTE411 Voter Guide (opens in a new tab)League of Women Voters Education Fund (VOTE411) · 2026 · Candidate questionnaire

Recorded votes on the economy and taxes

Selected votes

Measures only one of the two candidates voted on.

No selected votes for this candidate

S.B. 2, property tax relief (88th Texas Legislature, 2nd Called Session, 2023)
Economy
According to the House committee bill analysis, enacts the provisions of the Property Tax Relief Act: reduces school districts' maximum compressed tax rates; raises the school district residence homestead exemption from $40,000 to $100,000, contingent on voter approval of the constitutional amendment proposed by H.J.R. 2; and temporarily limits annual appraisal increases to 20 percent for non-homestead real property valued at no more than $5 million (the limit expires Dec. 31, 2026).
Passed the Texas House 133–4 on third reading on July 13, 2023 (Record 31), after passing to third reading 132–4 the same day (Record 26); signed by the governor on July 22, 2023. Voters approved the H.J.R. 2 constitutional amendment (Proposition 4) on Nov. 7, 2023, 2,121,784 to 421,177.
5 sources88(2) History for SB 2 (opens in a new tab)Texas Legislature Online · 2023 · Legislative record88(2) SB 2 - Committee Report (Unamended) version - Bill Analysis (opens in a new tab)Texas Legislature Online · 2023 · Legislative recordHouse Journal, 88th Legislature, Second Called Session, 5th Day (continued) (July 13, 2023) (opens in a new tab)Texas House of Representatives · July 13, 2023 · Legislative recordHouse Journal, 88th Legislature, Second Called Session, 6th Day (July 13, 2023) (opens in a new tab)Texas House of Representatives · July 13, 2023 · Legislative recordH.J.R. 2, 88th Legislature, 2nd Called Session: election details (Proposition 4, Nov. 7, 2023) (opens in a new tab)Legislative Reference Library of Texas · Nov. 7, 2023 · Legislative record
Voted yes
Texas House of Representatives · July 13, 2023
On passage on third reading (Record 31)
SourceHouse Journal, 88th Legislature, Second Called Session, 6th Day (July 13, 2023) (opens in a new tab)Texas House of Representatives · July 13, 2023 · Legislative record

In their own words

Statements

Cost of living and his economic plan
My agenda is very simple: I believe every Texan should be able to buy a home, raise a family and live a healthy life without struggling to make ends meet.
Ken Paxton · Statement and campaign digital ad announcing his economic plan, as reported by The Texas Tribune · July 31, 2026
SourcePaxton unveils economic plan tied to tax breaks in Senate race (opens in a new tab)The Texas Tribune · July 31, 2026 · News

Cost-of-living tax cut
I am proposing a cost-of-living tax cut that will expand the Child Tax Credit and Earned Income Tax Credit, restore the ACA Tax Credits, and provide a tariff rebate to Americans who have been paying too much for everything.
James Talarico · Written answer to Ballotpedia's Candidate Connection survey, submitted Sept. 1, 2026 · Sept. 1, 2026
SourceJames Talarico (opens in a new tab)Ballotpedia · Reference

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