The budget deal that took a step closer to passage Wednesday evening would spend $3.9 billion from the state's Rainy Day Fund. That would leave more in the fund than many lawmakers or Gov. Rick Perry had earlier proposed.Full Story
The Rainy Day Fund is a savings fund that allows states to set aside excess revenue for use in times of unexpected revenue shortfall. It can plug holes in the budget, defend against an economic perfect storm and keep the deficit clouds at bay.
Using the fund itself isn’t particularly easy. If the comptroller says that revenue will decrease ...
The betting here is that state finance is the closing drama of the session and that in spite of the sharper debates here at the end, that everybody goes home singing Kumbaya.Full Story
The legislative session is in its last month and most bills will die. But setbacks for the big stuff — water, transportation and the like — are usually temporary.Full Story
The best way to finance Texas' pressing water and transportation needs — and to supplement spending on public education — is to let voters decide whether to use the state's Rainy Day Fund.Full Story
Two years ago, lawmakers couldn't find the money they needed to run the government they had promised their voters. Now they have the money — and a completely different set of political problems.Full Story
A bill that would draw $2 billion for water projects from the Rainy Day Fund is set to hit the House floor Monday afternoon. The debate could turn to focus on what it means to be a fiscal conservative in the Tea Party era.Full Story
In this edition of the Newsreel: The conversation in West turns to regulation, the Senate wants to ask voters to use Rainy Day Fund money, the House undoes the state lottery and then puts it back together, and some Texas prosecutors are in hot water.Full Story
After spending most of the day locked away in negotiations, the Senate unanimously approved a measure pulling $5.7 billion from the Rainy Day Fund for water and road projects and public education.Full Story
For this week’s nonscientific survey of insiders in government and politics, we asked about transportation and, more specifically, how to pay for expansion and maintenance of the state’s transportation infrastructure.Full Story
The Rainy Day Fund has been used for public education before and should be used for it now — to reverse drastic cuts made in education spending during the 2011 legislative session.Full Story
It's proper to use the state's Rainy Day Fund for a $2 billion water plan, but it isn't necessary until 2015, and using it now would force lawmakers to bust the constitutional cap on budget growth.Full Story
The state's Rainy Day Fund should be kept as insurance against real financial downturns. If the state needs money for water programs, it should get that money by cutting other programs that are less important.Full Story
Using the Rainy Day Fund now will help address the state's water needs and keep general state spending on water down for decades to come.Full Story