Perry Urges Lawmakers To Keep $7 Billion In Rainy Day Fund

AUSTIN (April 17, 2013)--Gov. Rick Perry Wednesday urged lawmakers to leave at least $7 billion in the state's Rainy Day Fund.

Perry said Wednesday a Texas Senate proposal to take $6 billion from the reserve fund is "a little too much."

The fund balance is projected reach $12 billion if left untouched.

Perry said he would like to keep at least $7 billion in case of a major natural disaster.

Perry has also called for $1.6 billion in business tax cuts, and says it may mean tapping the Rainy Day Fund to cover those costs.

Last week, the Senate Finance Committee passed a constitutional amendment that could mean spending $2.5 billion of Rainy Day Fund money for water projects, and $3.5 billion more on transportation improvements.

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