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Politics

Politics

 
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GOP Plan Uses $6 Billion From Texas Rainy Day Fund

Updated: Thursday, April 11 2013, 12:37 PM CDT

AUSTIN, Texas (AP) -- A new plan by Senate Republicans would take $6 billion from the state's Rainy Day Fund -- and the spending may not stop there.
 
Republican Sen. Tommy Williams said Thursday he is willing to consider taking more from the projected $12 billion stockpile of cash reserves for schools and health services. The surprising proposal unveiled in the Senate Finance Committee now calls for taking $2.5 billion for water projects and $3.5 billion for transportation.
 
The GOP plan to use half of the state's emergency piggybank is a pivot for some party leaders who have staunchly opposed tapping into the fund. That includes just two years ago, when the Legislature faced a $27 billion shortfall.
 
Voters would have to authorize the spending by approving a constitutional amendment in November.

(Copyright 2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

GOP Plan Uses $6 Billion From Texas Rainy Day Fund


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