It's Pooring!

Updated: Another way to tap the rainy day fund? 

On monday, Sen. Royce West, D-Dallas, floated a proposal this morning to put an additional $3 billion from the state’s rainy day fund into the budget bill that will pay for the deficit in the current year.  HB-4 already includes $3.25 billion from the $9.4 billion reserve fund to cover the state’s tab for the current fiscal year, which ends August 31st.  Of course, the Republicans are wanting to debate this proposition.  A House budget passed in early April trimmed about $23 billion in state spending with cuts to K-12 education, elderly care and higher education. The Senate version of the budget, which is expected to be voted on by the full chamber at the end of April, spends $7 billion more than the House version and differs in substantial ways.  The Senate budget would spend billions more on public education, nursing homes and Medicaid.  Lawmakers positioned themselves for the fiscal debate, with Republicans saying that the state spends too much, and Democrats arguing that the state fails to generate sufficient revenue.  Republicans said that no new taxes will be used to balance the state budget.  It doesn't seem to matter how many cuts are made in our state it is proposed that we will automatically face around a 10 billion dollar shortfall for the next fiscal years regardless.  All spending cuts will come from Education K-12, Higher Education, and of course healthcare/medicaid.  There is still an 18 billion dollar gap that will need to be filled.  It was proposed by the House Budget Chief Jim Pitts that the Legislature consider expanded gambling in the state.  This option is highly unlikely.