Missouri governor calls for $100M rainy day fund

JEFFERSON CITY, Mo. (AP) – Missouri Gov. Mike Parson is pitching a new $100 million rainy day fund for financial emergencies. Parson pitched the plan Wednesday as part of his budget proposal for the upcoming fiscal year and his 2020 State of the State address to the Republican-led Legislature.

Missouri elected officials have been sounding the alarm for potentially rocky state finances in the coming years. Democratic Auditor Nicole Galloway is running to unseat Parson this year. She has warned Missouri is not saving enough to avoid having to cut spending or raise taxes if there is a recession.

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