Perry to Legi­slature: Keep $7B in Rainy Day Fund

Governor wants to keep money in case of natural disaster


Gov. Rick Perry is urging lawmakers to leave at least $7 billion in the state's cash reserves, or Rainy Day Fund.

The Dallas Morning News reports that Perry said Wednesday a Texas Senate proposal to take $6 billion from the fund is "a little too much."

The fund balance is projected reach $12 billion if left untouched. Perry said he'd like to keep at least $7 billion in case of a major natural disaster.

Perry has also called for $1.6 billion in business tax cuts, and says it may mean tapping the Rainy Day Fund to cover those costs.

Last week, the Senate Finance Committee passed a constitutional amendment that could spend $2.5 billion of Rain Day Fund money for water projects, and $3.5 billion more on transportation improvements.


The views expressed are not those of this company or its affiliated companies. Please note by clicking on "Post" you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms.
blog comments powered by Disqus