AUSTIN (May 17, 2013)—Texas House and Senate negotiators have struck a deal on a two-year spending plan that would restore nearly $4 billion in school funding, a state official close to the negotiations said Friday.
The deal reached Friday afternoon also would clear the way for taking $2 billion from the state's rainy day fund for water projects.
Republicans needed Democratic votes to set up the State Water Infrastructure Fund and they wanted to boost spending on public education by $4 billion.
The Republican-controlled Legislature cut $5.4 billion from schools in 2011.
The deal is similar to one announced by Lt. Gov. David Dewhurst late Thursday night.
Conservative Republicans have complained the deal spends too much on schools, while Democrats wanted more.
Both chambers must still vote on the measure and Gov. Rick Perry would still have to sign it.