OK Legislature Not Ready To Tap Into Rainy Day Fund

Sunday, January 18th 2009, 9:35 pm
By: News On 6

News On 6

UNDATED -- Oklahoma's legislature has $600 million less to spend this year than last year. There is money available in what's called The Rainy Day Fund, but there's not much motivation yet to tap into it.

"I think it's something that we can handle. We're gonna have to work together and tighten our belts a bit, but it's nothing that's gonna be drastic cuts in state services," said Scott Meacham, (D) State Treasurer.

"The last thing we want to do when it's sprinkling is to draw down the rainy day fund. Let's save it for next year when it's probably raining or the year after when we have a gully washer," said Rep. Paul Wesselhoft, (R) Moore.

Despite assurances of a $600 million cut in income, Governor Henry says it's too early to consider cutting state employees to save money.