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

DALLAS (November 29, 2012)—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, Lt. Gov. David Dewhurst said Thursday at an event held by the Dallas Regional Chamber.

Dewhurst said Texas' rising population will require new investments in water and roads and he wants lawmakers to consider establishing a new water infrastructure bank that would pay for environmental studies and planning of new reservoirs.

He said the bank could be repaid through construction budgets.

Dewhurst also said "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.

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