Branan Encouraged by Governor’s Support of Rainy Day Fund Expansion

State Sen. Cliff Branan has filed legislation to expand the state’s Rainy Day Fund, and was pleased when the Governor announced his support of the idea last week. Branan’s Senate Joint Resolution 69 would increase the cap on the fund from ten to fifteen percent.

“I’m pleased to see that Gov. Henry is supportive of the idea of expanding the Rainy Day Fund. If we would have raised the cap years ago we wouldn’t be in such a dire predicament now as we face the largest budget shortfall in state history,” said Branan, R-Oklahoma City. “This extra money would make a tremendous difference for our state agencies that are facing significant budget cuts because we don’t have the necessary emergency funds to cover the shortfall.”

Branan also pointed out that raising the cap would allow further investment in important state services such as transportation and public safety.

“We’ve made great progress in recent years in investing in our state’s transportation infrastructure, and I’m positive that increasing the cap would only improve our momentum in this area as well as help with other vital state services like public safety,” said Branan, Chair of the Senate Transportation Committee.

If approved by both legislative bodies, the resolution would then go before a vote of the people.