For Immediate Release:

Austin ~   The Senate Finance Committee approved their version of the state's 2012-13 budget Thursday morning in a brief meeting.  

"After months of review and some hard moments of reality, the Senate Finance Committee rolled out a responsible and conservative budget - one which protects public education and preserves nursing home beds without raising new taxes," said Senator Williams.  

The committee's proposal cuts 5% of all funds from the current spending levels and contemplates spending roughly half of the expected rainy day available fund balance through the end of the upcoming biennium.

"Based on current trends the state's rainy day fund is projected to grow to over 12 billion in the next two years," noted Williams.  "This proposed budget anticipates leaving approximately 6.0 billion to deal with any potential shortfall when the legislature returns in 2013."

The Texas Senate reconvenes Tuesday, April 26, and the budget is expected to be debated on the floor next week.

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