With a $150 Million Infusion, Illinois’ Rainy Day Fund Hits a Record

Even as political pressure to boost spending grows, Illinois has taken another step to build up its cash reserves. Comptroller Susana Mendoza reports she transferred $150 million today into the state’s Budget Stabilization Fund, more commonly known as the rainy day fund. With the new money, the fund now has $1.22 billion set aside for a recession or other downturn — a new record.