Bill To Tap Rainy Day Fund Before Texas House

AUSTIN (AP) – The Texas House is debating legislation Thursday that would make up for a $4 billion deficit in the current budget.

The measure makes about $800 million in cuts and assumes the use of about $3.2 billion from the Rainy Day Fund to close the gap in spending for the budget period ending August 31.

Democrats have suggested taking money away from Governor Rick Perry’s housing funds and his economic development accounts to give more money to colleges. Democrats have also urged using more of the fund for the next state budget to help avoid staggering cuts in the face of a revenue shortfall.

The amendments have been rejected by Republicans on party line votes.

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One Comment

  1. Kay says:

    It hasn’t rained so leave that fund alone unless you want the whole state to burn up.
    A rainy day is what is happening in Japan right now with a melt down, disasters is what this fund should cover.
    Stop spending money you don’t have just like the rest of Texan’s have to do. Make the cuts to all things you fund straight across the board to be fair to everyone after you have canceled all non-necessary spending like telling people distracted driving causes crashes. No more raising any type fees to make ends meet-freeze all income making sources since no one should pay a dime more until you spend it wisely.
    As for Perry put him in a mobile home on the State Mansions site until repairs are done-good enough for hurricane victims good enough for him.

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