Senate Votes $4 Billion From Rainy Day Fund for Deficit

The Texas Senate approved a $3.97 billion draw on the state's Rainy Day Fund to cover a deficit of the same size in the current budget, but not before rejecting efforts to add on a larger amount to help balance the 2012-13 budget.

Sen. Steve Ogden, R-Bryan, matched the size of the withdrawal to the size of the current deficit. But he asked the Senate to use more of the fund than the House used, casting aside other revenue sources that were in that chamber's mix. If that prevails, it would mean a bigger draw on the ...

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