CPPP Sums Up the Case for Using the Rainy Day Fund for 2012-13

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Scott McCown /(512) 320-0222 x 109

May 18, 2011

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Executive Director F. Scott McCown sums up the case for using the Rainy Day Fund for 2012-13:

“Texans aren’t supposed to protect the Rainy Day Fund. The Rainy Day Fund is supposed to protect Texans. Voters created the Rainy Day Fund by constitutional amendment in 1988 to offset unforeseen falls in state revenue just like the state faces now. The Legislature should use the Rainy Day Fund to bridge the revenue hole created by the Great Recession."