The GOP primary for Texas comptroller of public accounts is shaping up to be an expensive one, with candidates hauling in millions in contributions from donors.
The three candidates in the race had collectively raised nearly $10 million as of early September, even as two of the contenders were under a fundraising moratorium for the first half of the year, while the legislature was in session.
Former state Sen. Don Huffines leads the pack, followed by Railroad Commission Chair Christi Craddick and Interim Comptroller Kelly Hancock.
According to experts, the cash influx in part reflects the authority the office has over a wide range of business sectors such as collecting dozens of taxes in the state, developing statewide contracts for goods, overseeing the state’s corporate tax incentives program and managing $50 billion worth of assets — all on top of shepherding the state budget and calculating revenue estimates for state lawmakers.
Texas has a $338 billion budget and produces more than $2.7 trillion worth of goods that places the state economy as the eighth largest in the world compared to other countries. Longtime donors contributing to comptroller candidates accounted for about one-third of the $3.2 million, with G. Brint Ryan, the chief executive of a Dallas tax firm and 71 employees accounted roughly $1 million within an eight-day period at the end of June, after a fundraising moratorium lifted for elected officials such as Craddick and Hancock.
Ryan LLC helps large corporations secure tax breaks under state programs managed by the comptroller and has through time represented more than 230 businesses, and it appears the company remains involved in a new version of the state program to offer corporations tax incentives.
Ryan said that Craddick is the best candidate for the job due to her experience in the state’s Railroad Commission and her attention to detail and distaste for waste.
Huffines, a Dallas businessman and former state senator, is leading the pack with a reported $4.7 million fundraised this year, most of which came from a $3 million donation from his brother and other contributions coming from funders who believe he will slash government waste. He has also loaned $10 million of his own money to his campaign.
Hancock, a former state senator who was appointed by Gov. Greg Abbott in June, has hauled the least so far reporting $1.7 million in filings with the state. Among his biggest donors were also people who run companies that interact with the comptroller’s office, like the CEO of Hunter Industries, which builds and maintains roads for the Texas Department of Transportation, and the CEO of Oncor Electric Delivery, which works closely with the Public Utility Commission of Texas and Electric Reliability Council of Texas.
The opening for a coveted statewide elected office was created by Hegar’s departure to lead the Texas A& M University System. When he last ran for reelection, in 2022, he spent $6.2 million almost 23 times the $274,018 his general election challenger spent.