AMARILLO, TX -- Texas' elected leaders have come up with their first proposed budget that includes deep cuts to state services over the next couple years.

The plan, HB-1, would spend almost 78 billion in state money, leaving schools under funded by 8 billion and a 4 billion dollar hole in health and human services.

And that's after dipping into the state's rainy day fund to the tune of 4 billion dollars... which still leaves lawmakers short.

State Representative Four Price says, "I have no problem using these dollars for the current biennium deficit, and that's important because it frees up the same amount to be used in the next biennium's budget."

Price adds there's already talk of Governor Rick Perry calling a special session, because, by law, lawmakers must have a balanced budget before they can adjourn.