Republicans vow to pay back money borrowed from Ala. Trust Fund

Alabama voters decided by a 2-to-1 margin to support the withdrawal of $437 million from a state trust fund to help balance the General Fund budget for the next three years.

"I want to thank the voters for approving the state's plan to temporarily borrow funds from our savings account to help get us through these difficult economic times without raising taxes, said Gov. Robert Bentley. "Once again, I pledge to the people of this state that the funds transferred to help support critical state services will be paid back."

State Republican Party Chairman Bill Armistead echoed the governor's commitment to repay the money.

"Our Republican legislators have promised that these funds will be paid back and legislation has already been drafted to be introduced in the next session of the Legislature," he said.

The Legislature left it up to voters to decide whether to use money from the Alabama Trust Fund or face cuts of 12% or more for the $1.7 billion General Fund budget that takes effect Oct. 1.