Perry: Take $1B from Rainy Day Fund for tax relief

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by PAUL J. WEBER / Associated Press

Associated Press

Posted on January 30, 2013 at 2:37 PM

Updated Wednesday, Jan 30 at 2:37 PM

AUSTIN, Texas  -- Gov. Rick Perry says nearly another $1 billion from the Rainy Day Fund should be used for tax relief, in addition to the $3.7 billion he wants to spend from the state’s emergency account to pay for water and road projects.

Not included in the governor’s proposed budget is how $840 million from the Rainy Day Fund should be used to help achieve $1.8 billion in tax relief, which Perry called for in his State of the State speech this week.

Perry didn’t mention using the Rainy Day Fund for tax relief in that address. He only suggested using some of the fund’s projected $11.8 billion balance for one-time infrastructure investments.

The proposed spending is a reversal for Perry, who has previously kept a tight lid on the fund.

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