There was $150 million in the “mega-fund” when Bobby Jindal took office. Now it’s down to $6.7 million, and prospects are dim for replenishing it. “I think the dollars have been used for meaningful projects that have been important for our economy,” he said.
Tapping the state’s piggy bank has helped Jindal and legislators avoid tax hikes. But after pulling $255 million out of the rainy day fund, the state now has to find a way to replenish it in two years. But tax revenues are not forecast to rise enough to provide the money, foreshadowing tough choices ahead.