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Wednesday Wrap: Saving grace
The House voted overwhelmingly Wednesday to require the state to set aside money every year for its savings reserve.
Posted — UpdatedRALEIGH, N.C. — The House voted overwhelmingly Wednesday to require the state to set aside money every year for its savings reserve.
The target size of the reserve, often called the "rainy day fund," hasn't been set yet, but Rep. Nelson Dollar, R-Wake, harkened back to the 2009 recession and said it should be big enough for the state to survive "nine of 10 two-year budgetary calamities."
The bill now moves to the Senate, which has yet to have a substantive floor vote in three weeks.
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