Nixon wants Mo. universities to consider tapping into reserves to plug hole in budget
Gov. Jay Nixon wants five Missouri universities to consider tapping their reserves and provide funding to the state's higher education system. Nixon's proposal would call for the universities to provide the state $107 million from their reserves. The state would use that money to help avoid deep funding cuts to Missouri's public colleges and universities. The state would repay the schools over seven years with money from the Missouri Higher Education Loan Authority.
Missouri Senator Roy Blunt says the failure of two balanced-budget amendments today shows Senate Democrats aren’t serious about dealing with the deficit.
The defeat of both bills – one from Democrats, one from Republicans – ends the current push to force a yearly balanced budget from Congress. Blunt, who voted for the Republican-backed bill, says the fact that neither party could pass their amendment speaks to the heart of the Senate’s disfunction.