Can Pennsylvania's ‘Rainy Day Fund’ balance the budget?

(The Center Square) – Pennsylvania’s emergency savings account, contrary to its colloquial name of “Rainy Day Fund,” is for anything but. Instead, state law reserves the $7 billion pot for economic downturns or unexpected revenue shortfalls, and can’t be tapped without a two-thirds vote from the legislature. Neither condition appears to have been met for Gov. Josh Shapiro’s proposed $51.5 billion spending plan, according to the Commonwealth Foundation. In a letter to Treasurer Stacy Garrity and leaders of the House and Senate, the fiscally conservative nonprofit argued that “the commonwealth’s economic environment has been well known and understood for months.” Support this podcast: https://secure.anedot.com/franklin-news-foundation/ce052532-b1e4-41c4-945c-d7ce2f52c38a?source_code=xxxxxx Read more: https://www.thecentersquare.com/pennsylvania/article_7d826844-5861-4de8-8f27-dea1b8f49f2e.html