AUSTIN, Texas (AP)--Gov. Rick Perry wants to tap the Rainy Day Fund to spend $3.7 billion on critical water and transportation systems in the state.
In his State of the State speech on Tuesday, Perry said there is more money in the fund than is needed, and that the state should not accumulate any more. He said tapping the fund for a one-time investment in infrastructure was needed to ensure a high quality of life.
Perry also called to use road funding only on transportation projects.
The Republican has for weeks called on the Legislature to cut taxes and continue to hold down government spending _ even though Texas' economy is booming. He also called for $1.8 billion in tax relief and said how to do that was still open for consideration.
Watch Gov. Perry's entire speech in the video below.
YNN: In State of the State address, Perry proposes returning excess taxes
Time Warner Cable video customers:
Sign in with your TWC ID to access our video clips.
To view our videos, you need to
install Adobe Flash 9 or above. Install now.
Then come back here and refresh the page.
Copyright 2012 Associated Press, All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.