Pennsylvania Gov. Shapiro Would Deplete Rainy Day Fund While State Expert Suggests It Should Be Larger

Pennsylvania’s official fiscal watchdog this week told state senators that the commonwealth’s Rainy Day Fund contains less money than many experts recommend — and that’s before Democratic Governor Josh Shapiro’s long-term fiscal plan burns through it. 

The state Treasury currently keeps $5.7 billion in the Rainy Day Fund to help public institutions endure revenue losses resulting from economic downturns. According the the department’s own calculations, current reserves in this account could sustain General Fund expenditures for just under 43 days. 

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