Tags: Economic- Crisis | Rick Perry | Texas | Governor | reserve fund | budget deficit

Gov. Rick Perry Reaches Deal on Texas Budget

Wednesday, 16 Mar 2011 03:04 PM

Texas Gov. Rick Perry agreed Tuesday to dip into the state reserve fund to plug the state budget hole for this fiscal year, but with a caveat: He won’t touch the rainy-day fund again. The governor agreed to use $3.1 billion of the $9.4 billion in reserves to cover a deficit in the current two-year budget, which ends Aug. 31.

However, he promised not to take money out of the fund again to fill the projected $23 billion hole for the next budget, the Austin American-Statesman reported Wednesday.

"I remain steadfastly committed to protecting the remaining balance of the rainy-day fund, and will not sign a 2012-2013 state budget that uses the rainy-day fund," Perry said.

Leaving the $6 billion in reserves means lawmakers will have to make deep cuts in spending across the state government.

Democrats criticized the governor for the decision to leave most of the money in the reserve fund saying it would cause painful cuts in state services.



© 2015 Newsmax. All rights reserved.

Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
You May Also Like

Kate Middleton Photoshop Fail: Magazine's Retouching Goes All Wrong

Tuesday, 27 Jan 2015 18:19 PM

An Australian magazine is being widely criticized for a Photoshop fail of Duchess of Cambridge Kate Middleton. . . .

Imagine Dragons Airplane Performance: Southwest Launches Contest

Tuesday, 27 Jan 2015 17:41 PM

Grammy-winning band Imagine Dragons will do a live airplane performance at 35,000 feet aboard a Southwest Airlines fligh . . .

James Caan Files for Divorce for Third Time From Fourth Wife

Tuesday, 27 Jan 2015 16:54 PM

James Caan has filed for divorce from his wife, Linda Stokes, for the third time. . . .

Top Stories

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved