In a letter sent yesterday, Texas legislators urged TXDOT to borrow $1.5 billion by bonding gas tax revenues as a short-term solution to get road construction projects moving again. (The Legislature authorized TxDOT to borrow up to $6 billion against the gas tax and the agency has issued $2.9 billion to date). In return, legislators promise to cut back gas tax diversions on non-roadway expenditures. The letter was signed by Lt. Gov. David Dewhurst, House Speaker Tom Craddick, Senate Finance Chairman Steve Ogden and House Appropriations Chairman Warren Chisum.

TxDOT’s response was to demur to the Governor, whose response was less than enthusiastic. A Perry spokesman said the Governor was looking for long-term, not stop-gap, solutions.

Legislators suggest TxDOT borrow money for projects

Borrow more for roads, legislators urge transportation department Austin American-Statesman

Dewhurst: Go forth and borrow Austin American-Statesman