Send To Friend 
CaptionTweet This! http://mync.com/site/29284/
Gov. Beverly Perdue has taken nearly $800 million from North Carolina's rainy day reserve fund to ensure the state has enough money to pay its bills.
Perdue announced the decision late Wednesday to seize the savings reserve fund assembled by lawmakers. She called it a "precautionary measure" to combat one of the sharpest declines in overall tax collections in recent state history.
Perdue said $250 million of the money will be used to ensure that the state employee health insurance plan still has cash at the end of the month.
Lawmakers already considering using the fund for the health plan are unhappy with the move. House chief budget-writer Rep. Mickey Michaux of Durham County said Perdue can't touch rainy-day money without the express approval of the General Assembly.
Report Abuse 
Post A Comment
Commenting is not available in this section entry.