how should judges set bail?

In 2017, numbers showed that 75% of people in custody in Texas were awaiting trial and therefore not yet convicted (see article here).  So the question is, what factors should be considered when setting bail?  The facts of the crime?  The ability to make bail?  etc.  
        "The bipartisan legislation filed Monday aims to help poor, low-level defendants  get out of jail on free bonds and keep in jail those thought to be flight risks or threats to public safety. The proposed risk-assessment tool would have to be used within two days of arrest to help judges determine the defendant’s level of risk based on criminal history, not just the current offense. The bills are similar to last session’s, when legislation passed the Senate but died before reaching the House floor." (see article here)