TX is convening a new legislature soon. Legislators will have to address a huge spending budget shortfall. The projected deficit could possibly be up to a billion dollars. Casino interests are attempting to push legalization in that state. Some call this a payday advance to the spending budget, however may nevertheless take it up. Article source – Texas lawmakers considering a payday loan from casino interests by MoneyBlogNewz.
Many interested in gambling in TX
Lawmakers in TX are going to be convening their new session in just a couple weeks. A spending budget deficit of $20 billion or more is exactly what the legislature has to worry about. While meeting in Fort Worth, lawmakers may have to increase revenue or decrease spending through program cuts — neither of which will be easy or popular. In order to help the spending budget deficit get batter, gambling might be legalized with pressure from gambling interests.
Prior tries to legalize TX gambling
TX has had legalized gambling on the line previously for lawmakers to consider. Gambling interests tried to get the bill passed last time too. In fact, gambling would have been lawful in the state if it had worked. The bill was defeated though even though some of the bill would have gone to college scholarships. Many lawmakers say that casinos are more than a short term installment loan to the spending budget. With increases in law enforcement and social services, the casinos and gambling might not really be helpful as they’d be like a cash advance that has to be paid back.
About the TX gambling
There wouldn’t be an instant change if the Texas legislature passed a bill legalizing gambling. First, the Texas constitution would have to be changed. Gambling would then have to have some way to contribute to higher education. That could be part of the funding it would do. A public vote with individual municipalities only for instance Irving and Tarrant County would have to happen with the gambling. Legislature might never allow the Texas gambling bill to pass. There is a chance though considering there is such a high need for short term installment loans with the budget deficit.
Articles cited
Miami Herald
miamiherald.com/2010/12/26/1989474/gambling-interests-hope-texas.html
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