Texas is booming thanks to economic opportunities that draw people to the Lone Star State. But beneath this success lies concerning trends that call into question if Texas students are ready to compete in the Lone Star economy. This report details how Texas students do not have the knowledge and skills to succeed as they move on to the next grade level, much less in the workforce. Key takaways include: (1) Too many Texas students do not have the knowledge and skills to succeed in their next grade, much less in the workforce. This lack of readiness begins in the early grades, and students rarely catch up; (2) Eighth-grade Texans are likely to lose out on $104 billion in future earnings -- with low-income students bearing the bulk of that loss -- due to their lack of readiness for the future; (3) 93% of students who are not on grade level in third grade are still not on grade level by fifth grade. During the 2021-2022 school year, no grade level was more than 60% ready for the next grade; and (4) Texas cannot continue on a path of prosperity if its young people are relegated to second-class status, unable to compete in their own state and capitalize on the opportunities of tomorrow. [This report was produced with Texas 2036.]