The Legislature needs to take a deep look at the
Rainy Day Fund," Bush told the newspaper.
He said: "This would be the perfect source of income to kick-start our
rainy day fund which is expected to be set up in 2019.
Design
rainy day funds with clear, objective goals that policymakers can refer to regardless of changes in governors, legislatures, and business cycles.
New Hampshire has just $7 per capita in its
Rainy Day Fund.
Vermont created a new
rainy day fund similar to its Budget Stabilization Trust Fund, that gives the General Assembly, rather than the state's commissioner of finance and management, control over all withdrawals.
Two-thirds (68 percent) have had to dip into their
rainy day fund in the past, with car repairs (25 percent), job loss (21 percent), and home repairs (20 percent) being the most common reasons.
The Scotland Office said the Edinburgh administration may now make their first payment into the
rainy day fund.
In the 2009 session, we reached agreement to place some additional corporate tax revenues into the
rainy day fund beginning in 2013, when our economy will be stronger.
A dummy variable for the presence of a
rainy day fund (1 for states that have an RDF, 0 for states that don't) is expected to have a negative sign, because the existence of such a fund should reduce the need for spending cuts or tax increases during a recession.
25 billion in its
rainy day fund, predictions for the current year are all over the map.
Although revenues fell slightly year-over-year in both fiscal years 2009 and 2010, the state did not draw on its
rainy day fund, and managed the revenue declines with use of federal stimulus funds and spending reductions, continuing to generate surpluses and additions to the
rainy day fund in each of these recessionary years.
As Texas awaits action from Washington, Turner said the state should be dipping into its emergency fund, better known as the
Rainy Day Fund, to help Harvey victims.
