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Dewhurst: Take $1B From Rainy Day Fund For Water

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DALLAS (AP) – Lt. Gov. David Dewhurst says Texas should consider using $1 billion in the state’s Rainy Day Fund to help pay for new reservoirs and other sources of drinkable water.

Dewhurst spoke Thursday at an event held by the Dallas Regional Chamber.

Dewhurst says Texas’ rising population will require new investments in water and roads. He wants lawmakers to consider establishing a new water infrastructure bank that would pay for environmental studies and planning of new reservoirs. He says the bank could be repaid through construction budgets.

Dewhurst also says “additional dedicated revenue” is necessary for the Texas Department of Transportation, possibly from the Rainy Day Fund.

The state comptroller’s office estimated last month that the Rainy Day Fund would hit $8 billion by the end of this year.

(© Copyright 2012 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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