Monday, September 7, 2009

Rainy Day Fund Intact

Despite the current recession, Vermont still has its rainy day fund.



Among all of the disagreements between lawmakers and officials Douglas administration over the state budget, there is one point of agreement: Few lawmakers and nobody in the administration want to spend the state's rainy day funds. The Rutland Herald reports that the question comes up: When will those reserves be used to offset the drop in state tax revenue that has led to hundreds of positions being eliminated and nearly130 state workers being laid off, the closure of highway rest areas and reductions in some programs? Lawmakers say when the economy improves.