GOP plan uses $6B from Rainy Day Fund

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by PAUL J. WEBER / The Associated Press

khou.com

Posted on April 11, 2013 at 10:31 AM

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.

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