Parson proposes $100M rainy day fund

During the State of the State Address yesterday, Missouri Gov. Mike Parson called on lawmakers to set aside a $100 million rainy day fund.

"Since the beginning of our administration, our state treasurer, budget director and my chief of staff have been discussing this opportunity," Parson said. "I am proud that we can finally make this vision a reality."

Auditor Nicole Galloway, who is running against Parson in the gubernatorial election this year, last October warned the state is not saving enough to avoid spending cuts or increased taxes in the event of a recession.

Read more from The Associated Press.