TX Lawmakers To Use $3.19 Billion From Rainy Day Fund

AUSTIN, Texas (AP) - The Texas Legislature has sent a measure to spend about $3.19 billion from the state's savings account to Gov. Rick Perry's desk.

The Senate gave a final vote Wednesday evening to the measure that allows the state to use the money from the Rainy Day Fund to close a deficit in the current state budget. The vote comes after weeks of tense negotiations between the House and the Senate on the next budget. Conservatives in both chambers had pledged to limit how much they spend from the Rainy Day Fund.

Instead, they chose to make massive cuts to all levels of state government to grapple with a multibillion dollar revenue shortfall.

The Senate had initially proposed to use several hundred million more from the Rainy Day Fund than the House.