The Permanent Umbrella Report

The Permanent Umbrella: A Constitutionally Mandated Rainy Day Fund for Massachusetts (March 2004)
This report by the Chamber addresses one of the most critical aspects of state fiscal policy – the ability of Rainy Day Fund reserves to insulate the Commonwealth from cyclical economic volatility and contribute to the long-term economic health, prosperity, and competitiveness of the state. The report recommends a constitutionally mandated Rainy Day Fund and outlines suggested features of a fund.