Saturday, July 31, 2021
82 F
Fort Worth

Texas Senate gives early approval to road spending

🕐 1 min read

JIM VERTUNO, Associated Press

AUSTIN, Texas (AP) — The Texas Senate has given preliminary approval to taking nearly $1 billion a year from the state’s reserve fund and spending it on transportation. The constitutional amendment, reached on Tuesday, still needs a final vote to send it to the House with one week left in the special session. State transportation leaders say Texas needs to spend $4 billion more a year on transportation to keep up with growth. The Senate plan would divert oil and gas severance taxes collected in the reserve fund toward road building and maintenance. The Senate plan only moves that money if the reserve fund has at least $6 billion. Senators debated whether keeping the minimum amount makes fiscal sense and will result in less money going to transportation. The amendment would need statewide voter approval.

 

Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

Related Articles

Our Digital Sponsors

Latest Articles

Not ready to subscribe?

Try a few articles on us.

Enter your email address and we will give you access to three articles a month, to give us a try. You also get an opportunity to receive our newsletter with stories of the day.

Get our email updates

Stay up-to-date with the issues, companies and people that matter most to business in the Fort Worth.

  • Restaurants
  • Technology
  • and more!

FWBP Morning Brief

FWBP 5@5

Weekend Newsletter

  • Banking & Finance
  • Culture
  • Real Estate