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Capitol's Newest Millionaire

LM Otero/Associated PressIt was only for a day, but Houston Sen. Dan Patrick brandished a million dollars at a Capitol news conference Wednesday to illustrate his opposition to a plan to break the current state spending cap so that homeowners can receive promised property tax cuts. Mr. Patrick, also a talk show host on Houston and Dallas radio stations, said the million bucks - which he borrowed for a day - was his way of showing how much 200 taxpayers in Texas pay every two years to the state in taxes. Enough is enough, he said, contending the Legislature should cut expenditures rather than break the current spending cap - even if it means property taxes cannot be reduced as much.

While he did not suggest where the budget reductions should be made, he said they should be deep and lawmakers should not be deterred by those who have warned about "draconian" cuts in education and social services. "The draconian increases in college education, property taxes and business taxes have been tough on the folks too, and if it's tough on them, it should be tough on us too," the Republican said. Lawmakers are still expected to eventually pass a resolution to exempt the property tax cuts - which are being financed with new state taxes - from the spending cap.

As for the million dollars - stacks of twenties displayed in plastic bags - Mr. Patrick said he "borrowed it, and it needs to go back right now. I can't wait for it to get on the truck and go back to the bank." He offered no further details about his short-term loan.