Omaha World-Herald Midlands Voices: Rainy-day fund helps state weather budgetary storms
May 4, 2013
By Renee Fry
There’s a saying, “If you don’t like the weather in Nebraska, wait five minutes.” This seems particularly true in the Cornhusker State these days.
The fiscal climate also can change quickly, and the Legislature’s Appropriations Committee made prudent recommendations this week that would leave the state better prepared to weather budgetary swings.
The committee suggested that — rather than cutting taxes or enacting more spending measures — an additional $53 million in projected revenue for the 2013-15 biennium go into the state’s rainy-day fund. That revenue, combined with a $125 million windfall into the fund thanks to what experts say is a “one-time surge” in capital gains tax receipts, will help push the rainy-day fund balance to $625 million.