Key facts
- Hinojosa, a state representative, defeated Abbott, who was running for a fourth term.
- Talerico, a state representative, beat Paxton by more than a million votes, per the report.
- Hinojosa told Kut News in October she favors wiping clean corporate welfare in Texas.
- Texas levies no income tax on individuals or corporations but charges a franchise tax on companies with more than $1 million in revenue.
- Abbott has signed bills expanding franchise tax exemptions, per the report.
- During her campaign, Hinojosa focused criticism of tax incentives on data centers.
Democrat Gina Hinojosa, a state representative, defeated Republican Governor Greg Abbott in Texas on November 3, 2026, according to a Business Insider report published November 4. Abbott was seeking a fourth term. In the Senate race, Republican Attorney General Ken Paxton lost to Democrat James Talerico, another state representative, by more than a million votes, the report said.
Republicans held the Texas state senate, but results were still being tabulated on November 4 for a handful of competitive state house seats, according to the Associated Press.
More than 200 companies moved operations to Texas over the last seven years, according to a list compiled by Abbott's office, drawn by what the report described as a business-friendly reputation and corporate tax incentives. Hinojosa has indicated she favors rolling back some of those incentives. "I do think we should wipe clean corporate welfare in this state," she said in an October interview with Kut News, a Texas NPR affiliate. During her campaign, the report said, Hinojosa focused her criticism of tax incentives on data centers.
Texas levies no income tax on individuals or corporations. It charges a franchise tax on companies with more than $1 million in revenue, and Abbott has signed bills expanding franchise tax exemptions, the report said. The report listed companies that moved operations to Texas in recent years, including SpaceX, Samsung Electronics America, Chevron, Tesla, Charles Schwab and Oracle, citing Abbott's office.