Lawmakers in Texas are pushing for the passage of Proposition 1, which would amend the Texas constitution to allow part of oil and gas revenue to be spent on transportation projects. Voters will decide the fate of Proposition 1 on the Nov. 4 ballot. If approved, $1.7 billion will be available for infrastructure improvements during the first year.
If the amendment does not pass, the Texas DOT will not be able to borrow any more money, delaying projects for years.
Money from oil and gas production currently goes in a rainy-day fund, and by next year the account is expected to reach $8.4 billion.