Riley: "Amendment 1 for Budgets"

By: The Associated Press
By: The Associated Press

Gov. Bob Riley said Alabama voters prevented dire budget cuts by approving the emergency funding plan spelled out in Amendment One, but he said a hiring freeze and some spending restrictions will likely be necessary anyway due to the economic downturn.

Alabama voters approved Amendment One with 57 percent of the vote Tuesday.

The constitutional amendment gives the governor authority to borrow money from a $3 billion the Alabama Trust Fund.

The borrowed money, as much as $625 million, will allow state officials to try to balance the education and General Fund budgets in a year when tax collections are falling. But the money will have to be paid back in future years.

Riley also said he will be announcing programs to trim spending in the next few weeks.


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