Jefferson City, MO – The Missouri House Wednesday gave initial
approval to a bill limiting the money that can be spent from bonding the state tobacco settlement.
The bill limits the amount that can be spent this fiscal year to $100 million.
But Governor Holden has said he needs $263 million to balance the budget. He wants to get that money from the tobacco bonds.
He has said if the Republican-controlled Legislature does not approve of his bond plan, then he will cut the $263 million from primary, secondary and higher education.
To gain final House approval, the bill needs every Republican and 19 Democrats to vote for it. That vote is expected to come