Ohio Rainy Day Fund and fiscal reserves
Ohio's Rainy Day Fund has reached over $4 billion — described as the 'highest balance ever' — following a $35 million deposit in the state budget. This surplus has sparked debate about whether the state should deploy reserves for immediate needs like tax cuts and property relief, or continue building fiscal cushion against federal funding uncertainty.
How should Ohio use its record-high Rainy Day Fund surplus?
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Sources
Ohio CPA / Statehouse News Bureau — https://ohiocpa.com/for-the-public/news/2026/07/10/week-in-review--july-12--2026
$35 million to the state's Rainy Day Fund, taking it slightly over $4 billion - 'the highest balance ever.'
Positions on this issue · liberal → conservative
- Invest the surplus in underfunded public services like education, housing, and Medicaid rather than cutting taxes.
- Use a portion of the surplus for targeted relief to low-income Ohioans while maintaining a strong fiscal cushion.
- Keep the Rainy Day Fund at current levels and use any new surplus for one-time infrastructure investments.
- Return surplus funds to taxpayers through broad tax cuts while maintaining a prudent reserve balance.
- Aggressively use reserves to fund major tax elimination and let future legislatures find offsetting savings.