Perry: Tap Rainy Day Fund For Tax Relief

AUSTIN (January 30, 2013)--Gov. Rick Perry said Wednesday that nearly another $1 billion from the Rainy Day Fund should be used for tax relief on top of the $3.7 billion he wants to spend from the state's emergency account to pay for water and road projects.

Not included in the governor's proposed budget is how $840 million from the Rainy Day Fund should be used to help achieve $1.8 billion in tax relief, for which Perry called in his State of the State speech earlier this week.

Perry didn't mention using the Rainy Day Fund for tax relief in that address, but did suggest using some of the fund's projected $11.8 billion balance for one-time infrastructure investments.

The proposed spending is a reversal for Perry, who has previously kept a tight lid on the fund, calling it untouchable during the last legislative session when lawmakers cut education funding.

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