AUSTIN (Nexstar) - Gov. Greg Abbott signed a school funding package into law that he believes will put Texas on the path of being ranked number one in the country for education.

"Texas is number one in so many categories. Texas should be number one in educating our children," Abbott said before signing the bill. He spoke at a Wednesday afternoon news conference at Salado Middle School. Several young students stood behind him during the signing ceremony.

"This law will help students go from graduation directly into a good paying job right here in the Lone Star State," Abbott said.

The $8.5 billion bill, known as House Bill 2, creates new buckets of money for public schools to spend on specific initiatives. This includes $1.3 billion for an Allotment for Basic Costs — to fund insurance pr

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