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Home / A Rainy Day in West Virginia?A Rainy Day in West Virginia?
Last Updated on Friday, 13 February 2009 11:34 Written by rslcpol Friday, 13 February 2009 11:34
From Charleston Daily Mail:
House Republicans are eying surpluses set aside for the state’s rainy day fund as an avenue for tax cuts in a time of financial strain for many families.
But Gov. Joe Manchin said it’s fiscally unreasonable to start digging into the emergency reserves or redirecting surpluses in such a fashion.
West Virginia’s Rainy Day Fund now contains $448 million – a drop from the $581 million balance on June 30, 2007. Because the state invests the fund, last year’s crisis on Wall Street burned away $133 million in West Virginia’s reserves.
This entry was posted on Friday, February 13th, 2009 at 11:34 am and is filed under State Legislature News.
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