JSFiddle - React, Tailwind, and code Playground

HTML

<select name="My_Saved_Billing"
onChange="Choose_My_Saved_Billing(this.selectedIndex)" style="background-color:#EEEEEE">
<option></option>
<option value="1394">text</option>
</select>

JavaScript

$("select[name=My_Saved_Billing] option:first").text("Select Address");