Senate Republican leaders said they were underwhelmed today after the governor proposed only a modest funding increase for higher education next year rather than the significant, long-term revenue stream that the state's campuses need.

Republicans unveiled a wide-ranging plan of their own last week to shore up higher education, including a proposal for a permanent trust that would tap into the state's surging oil and gas revenue to fund Colorado's colleges and universities. The GOP funding proposal by Sen. Josh Penry, R-Fruita, and Rep. Al White, R-Winter Park, would generate an estimated $500 million to $1 billion in leasing fees to Colorado's state government and another $100 million or more annually for the next 20 to 30 years in mineral royalties and state and local energy taxes.

"The governor is promising a little more money without offering any new funding source," said Assistant Senate GOP leader Nancy Spence, who is also ranking Republican on the Senate Education Committee. "The real question is, what is this administration proposing to do over the long haul to shore up higher ed?"