DE legislators eye Rainy Day Fund

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Some republican legislators in Delaware think the state needs to access its Rainy Day Fund in order to stop current and future budget shortfalls.

State Representative Danny Short and Deborah Hudson wrote an opinion late last month saying a state fiscal advisory panel should explore restructuring the rainy day fund into parts that maintain a pool of money for catastrophic events, but also explore using some of its funds to establish a budget stabilization fund to hedge against the constant increases in spending and expenses.

Rep. Steve Smyk tells WGMD a problem with that plan is ensuring Delaware replaces any diverted emergency funds. Currently the Rainy Day Fund has over $230 million in its account, which Reps. Short and Hudson say is like buying a muscle car that never leaves the garage.