HURRICANE HARVEY: Can Trump Nudge Texas to Dip into Its Rainy Day Fund?
View on E&E News website"The politicking about how to use the money is common in states that run a budget surplus, said Daniel Raimi, a researcher at the Washington think tank Resources for the Future who has studied reserve funds around the country. 'Anytime there is a pot of money, people are going to want to spend that pot of money on their priorities, and that's very understandable,' he said. Some oil-and-gas-producing states and countries treat their reserves like a long-term trust fund, building up the principal and only spending the interest, Raimi said. Pulling out funds for one-time expenses, even hurricanes, can be problematic, he said."
