November 01, 2024

The 2024 Election and What it Means for Texas

TXCPA Government Affairs Update

By Kenneth Besserman, JD

On November 5, 2024, and for many weeks before, the American and Texas electorate went to the polls to cast ballots for the President, Senators, Representatives, state officials, and a myriad of other local races. While elections seasons seem to be never-ending as of late, the 2024 election seemed especially long. The 2024 presidential race was in the news almost daily since the last election in 2020 and the change at the top of the Democratic Party ticket further cemented the 2024 election as one of the most newsworthy and important elections in decades.

On the national level, the election saw many close elections that will determine which party controls the White House, the Senate and the House of Representatives. While control of the Texas House and Texas Senate were not in jeopardy this election, there were still some significant races and issues taking shape. Statewide elected offices – Governor, Lt. Governor, Comptroller, Attorney General – were not on the ballot in 2024; those races will be on the ballot in 2026. In November 2024, the full Texas House (150 districts) and half of the Texas Senate (16 districts) were on the ballot.

The most significant news in the Texas Senate going into the 2025 legislative session will be that former Senator John Whitmire – the longest serving Texas Senator and the former Dean of the Texas Senate – retired from his Houston Senate seat to become Mayor of Houston. The new Dean of the Texas Senate will be Senator Judith Zaffirini (D-Laredo).

The Texas House of Representatives is where the action has been in 2023 and 2024 and will be during the 2025 legislative session. At the end of the 2023 legislative session and for the remainder of 2023, the issue in the Texas legislature, and especially the Texas House, was centered around the impeachment and trial of Attorney General Ken Paxton and the issue of school choice/vouchers. Those two issues were centerpiece during the Republican primaries and runoffs in early 2024.

Over 40 incumbent members of the House were challenged by members of their own party. Governor Greg Abbott and Attorney General Paxton took an active role in the Republican primary targeting many sitting members of the House on their impeachment and school voucher votes. Over 20 Republican incumbents were defeated in the primary or runoff elections. This has created an experience vacuum in the Texas House as many long-term leaders and committee chairs were defeated.

Most significantly in the Texas House, there was a challenge to Speaker Dade Phelan. It is very unusual for a sitting House Speaker to be challenged in their primary election. Speaker Phelan came in second in a three-way primary forcing a runoff. In the runoff, Speaker Phelan prevailed by 366 votes. As for Speaker Phelan’s continuing as Speaker of the House in 2025, while that is in question, most Austin insiders think that he will prevail in his run for Speaker. With at least 30 new members of the Texas House entering office in 2025, it will be a different legislature in 2025.

Important Issues in the Upcoming Legislative Session

The state budget, infrastructure, property taxes, school choice, and water will be front and center in 2025. TXCPA’s agenda will address CPA pipeline issues and other issues that are important to you. Stay tuned for a lot more information about TXCPA’s legislative initiatives and please reach out to us if you have any legislative, election or advocacy information you would like to share.

About the Author: Kenneth Besserman is TXCPA's Director of Government Affairs and Special Counsel. Contact him at kbesserman@tx.cpa.

 

Thanks to the Sponsors of Today's CPA Magazine

This content was made possible by the sponsors of this issue of Today's CPA Magazine:

Accounting Practice Sales

Capstan

Condley and Company

CPA Charge

Goodman Financial

Poe Group Advisors

Professional Accounting Sales

 

 

 

 


  • Building the CPA Pipeline: A Faculty Perspective

    The CPA profession faces a shrinking pipeline, with fewer candidates entering the field even as demand grows. Faculty research highlights strategies to boost Exam success to better equip students, especially first-generation and future candidates under Texas’ new additional licensure pathway. Strengthening these supports is key to preparing the next generation of CPAs and securing the profession’s future.
    View Article
  • CPE: Joint Ventures and Equity Method Accounting

    Joint ventures enable organizations to combine resources under shared control to achieve strategic objectives, yet their accounting treatment has often posed challenges. To address this, FASB issued ASU 2023-05. This article examines the new guidance and its implications for equity method accounting.
    View Article
  • From Pipeline to Mobility: TXCPA Champions Two Major Wins for the Accounting Profession

    TXCPA achieved two landmark victories at the 89th Texas Legislature: an additional CPA licensure pathway for candidates and a modernized mobility law that strengthens practice standards in Texas. These wins not only expand opportunities for future CPAs but also set a precedent for other states, reinforcing TXCPA’s role as a leading advocate for the profession’s future.
    View Article
  • Finding Community and Purpose: Mariella Bosquez’s Journey in Accounting and TXCPA Houston

    Mariella Bosquez’s path to accounting was anything but traditional, but through TXCPA Houston she found both community and purpose. From psychology major to active student leader, her story shows how diverse backgrounds, mentorship and involvement can open doors and inspire the next generation of CPAs.
    View Article
  • Saved by the Byrd Rule: PCAOB Survives the One Big, Beautiful Bill

    Lawmakers looked to eliminate the Public Company Accounting Oversight Board (PCAOB) by folding its duties into the SEC, but the effort was blocked under Senate budget rules. Supporters argued the move would save money, while critics warned it would weaken audit oversight and investor protection. For now, PCAOB remains intact.
    View Article
  • TXCPA’s 2024-2025 Outstanding Chapter Awards Recognize Leadership, Service and Impact

    TXCPA’s Outstanding Chapter Awards celebrate small and medium-sized chapters that go above and beyond in leadership, service and community impact. This year, the San Angelo, East Texas and Rio Grande Valley chapters were recognized. Together, their achievements highlight the dedication and creativity shaping the profession.
    View Article
  • Your Old Plan vs. a Better Plan: How Accounting Firms Can Attract More CAS Clients

    Many firms still rely on outdated, exhausting methods like cold calls, referrals and random networking to win CAS clients - but those days are over. By embracing SEO, accounting firms can attract a steady stream of qualified, high-value clients who are already searching for their services, resulting in more revenue, stronger client relationships and the freedom to focus on delivering value.
    View Article
  • What’s Happening Around Texas - September-October 2025

    From networking luncheons and campus connections to hospital tours and a gathering at the Rusty Axe Brewing Co., members in Brazos Valley, Dallas, East Texas, and El Paso came together in a variety of ways. Professionals and students are finding community, inspiration, camaraderie, and fresh opportunities while chapters are setting bold visions for growth.
    View Article
  • Celebrating Our 2025-2026 TXCPA Faculty and Student Ambassadors!

    Through our Ambassador Program, TXCPA works with Texas educators and students each year to share resources and engage the next generation of CPAs, building connections on campuses across the state. TXCPA Ambassadors help us strengthen our presence and learn more about what we can do to help build and support the CPA pipeline.
    View Article
  • Stronger Together: Empowering the Next Generation

    The September/October issue of TXCPA’s magazine shines a spotlight on building the CPA pipeline and supporting future professionals. The issue is packed with ways to grow and stay connected. Most importantly, it’s a reminder that the future of our profession is built together - with your passion, time and voice.
    View Article
  • TXCPA Pipeline Resources at a Glance

    TXCPA’s Pipeline Resources offer something for everyone in the accounting pipeline — students, candidates, educators, and employers. Whether you’re exploring the field, teaching it or hiring talent, TXCPA connects you to the tools, people and opportunities that make an impact.
    View Article
  • The Statement of GreenHouse Gas Emissions

    Global standards for climate disclosure are rapidly evolving and companies are under pressure to measure and report indirect emissions across their value chains. A proposed Statement of GreenHouse Gas Emissions could give investors and stakeholders clearer, more comparable insights into corporate sustainability performance.
    View Article
  • 110 Years Strong: TXCPA Returns to Its Roots at the Tremont House

    TXCPA marked its 110th anniversary by returning to the historic Tremont House, celebrating a legacy of leadership while setting bold goals for the future. From legislative victories and a new tiered membership model to expanded student outreach and the launch of AcctoFi, the organization is driving transformation across advocacy, education and member engagement.
    View Article
  • Take Note

    In this edition of Take Note: Insurance Benefits Tailored for TXCPA Members; Enhancing Your Social Wellness; Stand Out as a Leader with the CGMA® Designation; TXCPA’s Career Center; Your Next Learning Opportunity
    View Article
  • Classifieds

    The classified ad section features listings for practice sales, firm buyers and specialized services. Whether you're expanding, selling or exploring niche opportunities, these ads connect you to valuable prospects and resources.
    View Article

CHAIR
Mohan Kuruvilla, Ph.D., CPA

PRESIDENT/CEO
Jodi Ann Ray, CAE, CCE, IOM

CHIEF OPERATING OFFICER
Melinda Bentley, CAE

EDITORIAL BOARD CHAIR
Jennifer Johnson, CPA

MANAGER, MARKETING AND COMMUNICATIONS
Peggy Foley
pfoley@tx.cpa

MANAGING EDITOR
DeLynn Deakins
ddeakins@tx.cpa

COLUMN EDITOR
Don Carpenter, MSAcc/CPA

DIGITAL MARKETING SPECIALIST
Wayne Hardin, CDMP, PCM®

CLASSIFIEDS
DeLynn Deakins

Texas Society of CPAs
14131 Midway Rd., Suite 850
Addison, TX 75001
972-687-8550
ddeakins@tx.cpa

 

Editorial Board
Derrick Bonyuet-Lee, CPA-Austin;
Aaron Borden, CPA-Dallas;
Don Carpenter, CPA-Central Texas;
Rhonda Fronk, CPA-Houston;
Aaron Harris, CPA-Dallas;
Baria Jaroudi, CPA-Houston;
Elle Kathryn Johnson, CPA-Houston;
Jennifer Johnson, CPA-Dallas;
Lucas LaChance, CPA-Dallas, CIA;
Nicholas Larson, CPA-Fort Worth;
Anne-Marie Lelkes, CPA-Corpus Christi;
Bryan Morgan, Jr, CPA-Austin;
Stephanie Morgan, CPA-East Texas;
Kamala Raghavan, CPA-Houston;
Amber Louise Rourke, CPA-Brazos Valley;
Shilpa Boggram Sathyamurthy, CPA-Houston, CA
Nikki Lee Shoemaker, CPA-East Texas, CGMA;
Natasha Winn, CPA-Houston.

CONTRIBUTORS
Melinda Bentley; Kenneth Besserman; Kristie Estrada; Holly McCauley; Craig Nauta; Kari Owen; John Ross; Lani Shepherd; April Twaddle; Patty Wyatt