The proposal, which would have trimmed $5 million from the 2018-2019 budget, was turned down by the board in a vote Thursday evening.
The board said the $5 million will now have to come from somewhere else, but it was not immediately clear from where.
Teachers in HISD are on a "step plan" which increases their pay based on their years of experience.
Last month, trustees approved a $2 billion budget that cut $83 million in spending.
HISD projects hundreds of teaching positions will be cut under the approved budget.
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Average teacher salaries in the Houston-area
A look at average teachers' salaries in local districts