Americans for Prosperity Says Treasurer’s Report Reaffirms Need to Transfer Surplus into Rainy Day Fund

Jan 14, 2014 by AFP

CONCORD – Americans for Prosperity – New Hampshire (AFP-NH) today reaffirmed its call for the legislature to transfer the state’s surplus from the 2014-15 budget into the Rainy Day Fund.  At a presentation to the Senate Finance Committee today, the State Treasurer called for the full transfer of the $15.4 million in surplus funds to go into the Rainy Day Fund, in part to protect the state’s bond rating.

“It’s time for the big spenders to put their desire to grow government aside and join with the fiscally responsible to ensure that we protect the state’s bond rating for future years and leave the state prepared for any future economic downturn,” said Greg Moore, AFP-NH State Director.  “Transferring the current surplus into the Rainy Day Fund still doesn’t dig us back out of the hole that the state’s been in since the start of the recession, but it would be a good initial step towards sound government.  The consequences of inaction, in terms of a lower bond rating, could devastate the state’s finances.”