Idaho Governor: Tuck Money Away For A Rainy Day

BOISE, Id – Idaho Governor Butch Otter wants to tuck some money away for a rainy day.  In his State of the State speech today, Otter pointed out that over the economic downturn of the past four years, the state has spent 381-million dollars in Rainy Day funds.

Butch Otter “Those funds were essential in helping Idaho weather economic hard times without anything like the dislocation and draconian measures that some other states were forced to take. That money helped us keep our credit rating high and our debt-level low. It helped us keep our taxes in check and our eyes on emerging from this extended downturn with a balanced and structurally sound budget.”

That spending has drained the Rainy Day funds.  Otter says this is the year to replace some of that money by tucking away 60-million dollars in fiscal year 2013.

Butch Otter “That will help us maintain the kind of fiscal stability, certainty and responsibility that Idahoans deserve and employers look for in their State government. And that’s what Idaho citizens will keep getting under my administration, with your help and continuing support.”

If the Legislature agrees, Otter wants to spread the money between three funds: Budget Stabilization, Public Education, and Higher Education.

You can read Otter’s speech here.

Copyright 2012 BSPR