Texas closed a tax loophole. Last-minute deals cost taxpayers $175M

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By Eric Dexheimer and Amelia Winger |

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Credits
Reporting by Eric Dexheimer. Editing by Yaffa Fredrick, Robert Eckhart, Alexandra Kanik and Caroline Ghisolfi. Design and development by Amelia Winger, Janie Haseman / Hearst DevHub and Emma Stiefel / San Francisco Chronicle. Visuals by Melissa Phillip, Jon Shapley and Kirk Sides.

Originally published on June 9, 2025

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