Federal Budget and Taxes

Morning Must Reads: Helping the Poor Not a Core Mission of the PA Department of Public Welfare?

The Philadelphia Inquirer this morning reports on the move by the Corbett administration to end programs that help low-income households file their taxes.

These programs are especially important because they raise the rate at which low-income households file for the Earned Income Tax Credit (EITC). The credit provides these households with much-needed income that ends up getting spent in the local community.

Asked about the cuts, a spokesperson for the Department of Public Welfare, an agency that spent thousands on a flagpole recently, noted that helping people to apply for the EITC is not a core service of the Department of Public Welfare.

Ryan Budget Would Cost Pennsylvania More Than $1 Billion in Federal Funds

Posted by Jamar Thrasher on August 13, 2012 12:51 pm
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The Center on Budget and Policy Priorities estimates Pennsylvania would lose more than $1 billion in federal funding for education, law enforcement, clean water, and other state and local government projects under the federal budget proposed by Congressman Paul Ryan. The plan also includes cuts to Medicaid and highway projects, costing Pennsylvania jobs.

Morning Must Reads: Your End of Summer Reading Assignment - Understanding the Ryan Budget

Hi all, a combination of vacations and the rush to finish the State of Working Pennsylvania 2012 mean our blogging could be a bit spotty over the next week or so. Bygones!

Onto today's Morning Must Reads.

Morning Must Reads: It's Jobs Day

As it is the first Friday of the month. that means we get new data today from the Bureau of Labor Statistics on national employment in June. The official release is at 8:30 a.m.

Morning Must Reads: This Isn't The Dual Mandate You're Looking For

The Federal Reserve, which through its control of the money supply is in charge of one of the key levers for regulating the pace of economic growth, is guided by a dual mandate over inflation and unemployment. If consumer prices begin rising too fast, the Federal Reserve will act to slow economic activity. Likewise, when unemployment rises, the Federal Reserve will act to boost economic growth.

On Wednesday, the Federal Reserve acknowledged that the economy appears to be growing more slowly than anticipated but opted to take no steps to boost growth. This decision elevated concern about the potential of future inflation over the currently high U.S. unemployment rate of 8.2% (Pennsylvania's rate is 7.5%).

Morning Must Reads: The Tax Foundation Has It Both Ways

Paul Krugman catches the Tax Foundation making a bizarre claim about income inequality and in the process reminds us all about the organization's poor track record on the facts.

Morning Must Reads: Red Tape Is for the Unlucky In Pennsylvania

Click To EnlargeAfter signing legislation complicating the determination of eligibility for unemployment insurance, the Corbett administration is laying off frontline workers in Philadelphia who help recently unemployed workers determine their eligibility.

Morning Must Reads: Elected Officials Are Supposed To Do No Harm

The New York Times has a good editorial this morning based on analysis by Josh Bivens and Heidi Shierholz at the Economic Policy Institute on just how much state and local budget cuts have hurt job growth. Bottom line, the editorial says, Congress could lower the unemployment rate substantially by providing more federal aid to states.

Midday Must Reads: Are We Getting What We Bargained for with the Gas Industry?

Stealthily included in the flurry of bills passed as part of the Pennsylvania budget is a provision that puts a moratorium of up to six years on gas drilling in parts of southeastern Pennsylvania. Columnist Walter Brasch, writing in the Hazelton Standard Speaker, had a few questions for the lawmakers who approved that concept.

Morning Must Reads: Special Needs Kids, Unemployment Insurance, Student Loan Debt and CEO Pay

Welcome back from the Memorial Day Weekend! The Pittsburgh Post-Gazette this morning explores the impact of charter schools on school districts.

The New York Times reports on declining aid to the unemployed.

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