Comptroller DiNapoli stated that New York State should save more money to its rainy day fund as it emerges from the pandemic with resources from federal aid and higher tax revenue. The resources were healthier than expected.
The state’s fiscal picture has improved greatly since the pandemic when the economy was largely frozen.
DiNapoli is looking ahead to the next crisis and urging the state to save more before the next one.
The state’s rainy day reserve currently sits at $3.3 billion, under the statutorily authorized $6.4 billion.
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