rainy-day-fund

$317 million deposit to Rainy Day Fund will protect taxpayers in economic downturn, officials say

BY: - July 9, 2019

By the time Pennsylvania wrapped up another fiscal year on June 30, the state had generated a surplus of more than $800 million — the result, officials say, of strong corporate tax revenues and record-low unemployment.  Some of that money had to cover costs that the state budget hadn’t anticipated. But $317 million went into […]

Pennsylvania’s rainy day fund, explained: Why a $250 million deposit is getting so much attention

BY: - June 26, 2019

As part of this year’s budget, lawmakers are getting ready to do something unusual: make a deposit into Pennsylvania’s rainy day fund. On Tuesday, the Republican-controlled state House passed a budget spending bill that puts $250 million into an emergency savings account. The move was backed by Democratic Gov. Tom Wolf, who consistently said any […]