Kasich Suggests a Rainy-Day Fund Could Bridge Ohio's Fiscal Gap
Ohio’s tax revenue has fallen short of official estimates. As Statehouse correspondent Andy Chow reports, Gov. John Kasich is offering one possible solution.
Kasich says Ohio and about 20 other states are seeing a drop in spending, leading to less state revenue. And he says that means this budget will be tough. Kasich even hinted for the first time that the state might turn to its savings account.
“You know the rainy-day fund is not just there to fund things willy-nilly. The rainy-day fund is there to deal with these kind of shortfalls in the middle of a budget so you can minimize disruption," said Kasich.
Democratic lawmakers have been calling for the use of those funds to help struggling local governments, and Republicans have wanted to dip into that pot for more tax cuts.