News
In His Own Words: Governor Wilder on the Creation of Virginia’s Rainy Day Fund
May 28, 2020
As states and localities begin to develop their recovery plans amid devastating shortfalls, a few can look to their rainy day funds for relief. In Virginia, this resource is owed to the fiscal foresight of our very own L. Douglas Wilder, the 66th Governor of Virginia and a distinguished member of our faculty. Governor Wilder managed the state through its worst recession since the Great Depression and established one of the earliest constitutionally protected state reserve funds in the country.
The American Society for Public Administration recently published an op-ed in which Governor Wilder recounted in great detail the creation of that fund, a reserve which will almost assuredly be used to address the pandemic. Read the full PA Times article.