Federal Budget and Taxes

Study Finds Many Profitable Corporations Pay Little or No U.S. Income Taxes

One would think that all profitable Fortune 500 companies in the United States are paying some amount in federal income taxes. And one would be wrong.

Cut to Federal Food Aid Impacts Families and Children in Every PA County

A major funding cut to the Supplemental Nutrition Assistance Program (SNAP) took effect November 1, impacting 1.8 million Pennsylvanians.

SNAP, formerly known as food stamps, is our nation’s first line of defense against hunger and a powerful tool to help keep families out of poverty. Benefits are modest, offering many Pennsylvania families a crucial bridge in this slow economic recovery.

A Prolonged Shutdown Will Damage PA Economy

The Pennsylvania economy remains very weak with high unemployment and sluggish job growth so far this year. Federal policymakers are partly to blame for cutting funding to schools and other services and not doing enough to support investments that build a stronger economy.

Third and State This Week: Nutrition Assistance Cuts, Fast Food Worker Strikes, Modest State Revenue Growth & More

This week at Third and State, we blogged about a pending cut and other threats to federal nutrition assistance, what the one-day strikes by fast food workers tell us about the future of the middle class, a post-recession pay cut for the nation's low-wage workers, state revenue growth in the year ahead, and the role of public safety net programs in keeping people out of poverty.

IN CASE YOU MISSED IT:

  • On food insecurity, Chris Lilienthal blogged about a report on the significant impact that a pending cut in nutrition assistance will have on low-income families across Pennsylvania and the nation. He also shared a New York Times report on a new study finding that additional cuts proposed by the U.S. House would cost more than 5 million Americans needed food assistance.
  • On unions and the economy, Stephen Herzenberg wrote that the fast food workers engaging in one-day strikes across the country may be on the verge of cracking the code to the next U.S. middle class.
  • On income inequality, intern Ellis Wazeter blogged about a recent study showing that low-wage American workers have taken a post-recession hit to their paychecks.
  • On state taxes, Michael Wood shared a chart showing that General Fund revenue collections are projected to grow very little in the 2013-14 fiscal year.
  • And on poverty, Chris Lilienthal passed on a blog post by Arloc Sherman of the Center on Budget and Policy Priorities highlighting just how much public safety net programs have helped keep people out of poverty in the United States.

IN OTHER NEWS:

Nearly 1.8 Million in PA Will See Food Assistance Cut

SNAP helps nearly 1 in 3 U.S. children get enough to eat. All of them will see their benefits cut in November.Nutrition assistance is our nation’s first line of defense against hunger and a powerful tool to help keep families out of poverty. Come November, this critical federal assistance will be cut, making it that much more difficult for 1.8 million Pennsylvanians to put food on the table for themselves and their families.

Morning Must Read: House Plan Would Cost 5 Million Americans Needed Food Assistance

Legislation before the U.S. House would eliminate about 5.1 million people from a federal program that provides nutrition assistance to eligible, low-income individuals and families, according to a new report by the Health Impact Project, a collaboration between the Robert Wood Johnson Foundation and the Pew Charitable Trusts.

The House-proposed cuts to the Supplemental Nutrition Assistance Program, or SNAP, would undermine the ability of low-income households to feed their families and increase poverty, the researchers found.

Lifitng Millions of Americans Out of Poverty

Check out the following Off the Charts blog post from Arloc Sherman of the Center on Budget and Policy Priorities. At a time when the U.S. House is advocating deep cuts to food assistance and other programs that help struggling families stay afloat, it is important to recognize just how much public safety net programs have helped keep people out of poverty in the United States.

Third and State This Week: Budget Analysis, Food Security Danger, Unremarkable Private Job Growth & Payday Lenders

This week at Third and State, we blogged about the state budget, the danger facing America's leading food security program, Pennsylvania's unremarkable private-sector job performance, and a gambit by payday lenders that backfired.

IN CASE YOU MISSED IT:

  • On state budget and taxes, Sharon Ward shared the Pennsylvania Budget and Policy Center's detailed analysis of the 2013-14 budget, and Michael Wood explained that tax changes enacted along with the budget made some steps toward reform but weigh the state's Tax Code down with more special interest tax breaks.
  • On the federal budget, Sharon Ward wrote that legislation separating agricultural programs from nutrition supports funded through the farm bill poses a threat to food assistance for millions of struggling parents, children, and vulnerable citizens.
  • On jobs, Stephen Herzenberg blogged that Pennsylvania’s private-sector job growth has almost stalled since about a year into Governor Corbett's term.
  • On consumer protection, Mark Price explained how payday lenders won few friends in the state Senate when they convinced House leaders to insert language into a must-pass Fiscal Code bill stating it was the intent of House and Senate leaders to enact payday legislation in the fall.

STATE BUDGET RESOURCES:

America’s Food Security Program in Danger

The U.S. House of Representatives on Thursday voted 216-208 to pass a bill that separates agricultural support programs from nutrition supports funded through the farm bill.

The biggest of these programs is the Supplemental Nutrition Assistance Program (SNAP), formerly known as food stamps. It is our nation’s first line of defense against hunger. If the program is weakened, millions of struggling parents, their children, and other vulnerable individuals will be harmed.

Third and State Recap: State Budget News, Payday Lending, Pensionomics, Education Funding & More

Over the past two weeks at Third and State, we blogged about the latest on the state budget and education funding, May's revenue report, and why policymakers must prioritize investments in Pennsylvania's future over new tax cuts. We also wrote about how public pensions inject millions into local economies and why payday lending, by any name, is still a debt trap.

IN CASE YOU MISSED IT:

  • On state budget and taxes, Sharon Ward blogged about the state House Republicans' 2013-14 budget plan and shared a video of her appearance this week on the Pennsylvania Cable Network where she made the case for closing tax loopholes, delaying new tax cuts, and restoring funding to schools and human services in the next budget. Kate Atkins blogged about school district and county officials from across the state who came to Harrisburg this week with a message for state lawmakers: prioritize investments in our schools, county health services, and infrastructure over new tax cuts. And Michael Wood wrote that while General Fund revenues are ahead of estimates in May, this year’s revenue surplus is unlikely to reach the $232 million forecasted back in February.
  • On public pensions, Stephen Herzenberg blogged about a Keystone Research Center report showing that pension benefits earned by retired teachers, first responders and public health workers inject millions of dollars into regional and local economies across Pennsylvania.
  • On payday lending, Mark Price wrote about Senate legislation that would legalize predatory payday loans with annual interest rates above 300%. Payday loans are described in the bill as "micro loans," but as Mark writes, payday lending, by any name, takes advantage of people in financial distress.
  • Finally, on education, we posted a video from the Pennsylvania Budget and Policy Center's May 28 webinar laying out the facts on state cuts to education in recent years.

IN OTHER NEWS:

MARK YOUR CALENDAR:

  • Time is running out. Join the Keystone Research Center and Pennsylvania Budget and Policy Center on Thursday, June 13 for our Annual Awards Dinner at the Hilton Harrisburg. Learn more and purchase tickets.
  • Join the Pennsylvania Budget and Policy Center on Tuesday, June 18 from 4 to 5 p.m. for a webinar highlighting the latest on the 2013-14 state budget. Learn more and register to participate.
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