House Republicans determined to solve Missouri's budget shortfall want the governor to play Powerball.
House Bill 2131, proposed by Mark Parkinson of St. Peters, would deduct $2 from the paycheck of Governor Jay Nixon in a fund called "Governor Nixon's Federal Scratch-Off, Match-Off Fund". The bill would require the governor or a member of his staff to purchase one Powerball ticket a week, with any winnings deposited into the fund until such time that its balance is $300 million. At that point, the funds would be transferred to the general revenue fund.
HB2131, whose co-sponsors include Budget Committee Chairman Allen Icet and House Floor Leader Steven Tilley, was heard before the Tax Reform Committee today.
The measure comes as part of House Republicans complaining about Governor Nixon's decision to budget $300 million in federal funds that have yet to be allocated to Missouri. To cover for this shortfall, Icet instructed appropriation committee chairs last week to slash five percent from their proposed budgets.
Missouri, like 48 other states, is required to have a balanced budget. Lawmakers will have until their spring break begins on March 4 to pass it.
The measure, essentially a jab by House Republicans at Governor Nixon (the bill's description refers to the $300 million as the "Nixon-Obama let's gamble on Missouri's future fund"), was not brought before a vote in committee today. Given the odds of winning the state-run lottery, it is unlikely the measure will pass.
The odds of winning any prize on Powerball, according to the Missouri Lottery, are one in 35, with the rollover jackpot's odds being one in 195,249,054. The largest prize ever awarded in Powerball was $365 million before taxes, won in 2006 by a consortium of players in Nebraska. The consortium opted for a lump sum payment of $177 million instead of a 29-year annuity.
HB2131 explicitly mentions Powerball in spite of the introduction of Powerball's long-time rival, Mega Millions, to the state earlier this month.
Comments