Philadelphia Councilman proposes “rainy day” fund

A proposal by a Philadelphia City Councilman could give the voters an opportunity to create a rainy day fund for the city.

A proposal by a Philadelphia City Councilman could give the voters an opportunity to create a rainy day fund for the city.

City Councilman James Kenney tried to get the rainy day fund approved during John Street’s administration. He says now that the city is struggling to pass a budget having some extra money set aside would be a good thing.

“It came back in my mind, because I realized that this would be an easier environment to pass it,” says Kenney. “There’s no requirement to put any money in right away, because we don’t have it. But when we start getting it, then we will have a steady socking away, so to speak, of money in the event that we run into something like this again.”

Councilman Kenney says it won’t be easy passing the bill, but he’s hopeful the current fiscal problems will be an incentive to do it now.