Governor Declares Economic Emergency

Governor Bob Holden has officially declared an economic emergency in the state, authorizing the General Assembly to dip into Missouri’s “Rainy Day Fund” to continue funding services. The Governor’s proclamation calls on legislators to approve the use of $135-million from the Fund. The action would require approval by two-thirds of both the House and Senate. Holden insists his proposed use of Rainy Day money would not drain the fund. He says there would be more money left there than the state spent in dealing with the Great Flood of 1993. If the Governor gets what he wants, the fund would have a balance of $17.8-million.