House looks to spend $2.5 billion from Rainy Day Fund
Thursday, March 16
House Appropriations Committee Chairman Rep. John Zerwas, R-Richmond, on Thursday unveiled a new version of House Bill 2, a stop-gap funding measure known as a supplemental budget, that includes almost $2.5 billion in money from the Economic Stabilization Fund, more commonly known as the rainy day fund. The original version of the bill included only $1.4 billion from the rainy day fund.
Facing a bleak budget outlook, Zerwas and House Speaker Joe Straus, R-San Antonio, have been advocating for the Legislature to use some money from the rainy day fund, projected to grow to $12 billion by the end of the next budget cycle. Read more . . .