Introduced by Rep. Virgil Smith, Jr. (D) on May 25, 2007, to express support for borrowing up to $500 million to avoid spending cuts in the Fiscal Year 2006-2007 budget. The money would be borrowed against future revenue from the 1998 tobacco company lawsuit settlement, which currently is used for Medicaid spending, non-need based college scholarships, and other purposes. Passed by voice vote in the House on May 25, 2007.
1) What a game by Anonymous Citizen on May 29, 2007 Anything to avoid spending cuts. Too many people caught on to the tax increases so we'll borrow money now and tax later. Reply
2) 2007 House Resolution 123 by admin on January 1, 2001 Introduced in the House on May 25, 2007, to express support for borrowing up to $500 million to avoid spending cuts in the Fiscal Year 2006-2007 budget. The money would be borrowed against future revenue from the 1998 tobacco company lawsuit settlement, which currently is used for Medicaid spending, non-need based college scholarships, and other purposes