State
Treasurer Beth Pearce says Vermont
could strengthen its Triple A rating on Wall Street if lawmakers support
expanding the state’s Rainy Day Budget fund next year. The fund has a cash
reserve that equals 5 percent of the entire state budget, or roughly $65
million.
The
Senate has defeated a plan to tap into the state’s Rainy Day Funds to
avoid
making more cuts in the state budget for next year. But the debate will likely to continue for the rest
of the session.
Governor
Jim Douglas will deliver his final budget address to the Legislature Tuesday
afternoon. All
the talk of budget cuts has prompted some lawmakers and policy advocates to say
they’d rather tap into the state’s rainy day funds instead.