Legislative Cost Bargain

12%its chance, of the story’s futures

0.0%on the S&P 500, if it happens

The governor’s race produces enough bipartisan pressure that the decisive policy vehicle becomes the 2027 Legislature rather than the executive branch alone. Lawmakers preserve Texas as an AI infrastructure market but make data centers pay more explicitly for transmission, ancillary services, and reliability protections.

What it moves

Utilities+0.7%
Energy+0.2%
Finance+0.2%
Technology−0.1%

Sectors in percent; other series by direction only.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.

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