HARRISBURG – Nearly $900 million will be added to the PA’s Rainy Day Fund. State Treasurer Stacy Garrity commended lawmakers for taking action to add the funds. House Bill 735, which was approved unanimously by the state Senate last week and approved by the House this week, authorizes the deposit by clarifying the definition of “surplus” in the law governing the fund. Garrity said continuing to build the Rainy Day Fund is a smart, prudent way to plan for PA’s future. With the additional $900 million, the Rainy Day Fund will surpass $6 billion. The Rainy Day Fund provides a fiscal safety net for possible economic downturns to help prevent tax hikes and cuts to discretionary programs.
STACY GARRITY