SUNLIGHT ON RAINY DAY FUND

Paul Fogleman,

Contributions this year to the state’s reserve account—the “Rainy Day Fund”–will push the total to $2 billion. This is a record high and it gives the state a cushion in case of an economic downturn or natural disaster. When the Great Recession hit 10 years ago, Democrats were in control and had to increase sales taxes to cover state appropriations to education, corrections, and other state agencies. Voters in the next election put Republicans in control of the Legislature.

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