Momentum Builds for Delaying Corporate Tax Cut

Senator Jake CormanMomentum is building in Harrisburg to delay a tax cut for profitable corporations next year in order to restore funding to public schools and other priorities in the 2013-14 budget.

Senator Jake Corman, a Republican who chairs the chamber's Appropriations Committee, is the latest lawmaker to say he would consider freezing the capital stock and franchise tax at the 2012 rate, which would raise $360 million.

Pennsylvanians Shortchanged by Drilling Fee

Last week, the Pennsylvania Public Utility Commission reported that natural gas drillers are paying $202 million in local impact fees this year. Sounds good until you see a new report from the Pennsylvania Budget and Policy Center (PBPC) showing that a moderate severance tax on gas could bring in twice as much as the fee does now and generate more than $1 billion annually by the end of the decade.

Third and State This Week: Payday Lending Debt Trap, Medicaid Rally, Pensions, State Budget, and More

This week at Third and State, we blogged about the payday lending debt trap, a big rally at the Capitol in support of expanding Medicaid coverage in Pennsylvania, 10 reasons Governor Corbett's pension plan will cost taxpayers more, the latest with the state budget, Pennsylvania's housing market, and more.

IN CASE YOU MISSED IT:

  • On payday lending, Mark Price wrote about a Senate bill that will open the door to payday lenders to come to Pennsylvania and charge triple-digit annual interest rates on short-term loans.
  • On health care, Chris Lilienthal blogged about a Capitol rally that brought out hundreds of people from across Pennsylvania to put some faces (and stories) to the ongoing debate over expanding Medicaid coverage in Harrisburg.
  • On the state budget, Sharon Ward wrote about superintendents from cuts-ravaged urban school districts coming to town to press for more education funding, among other happenings in the Capitol this week.
  • On pensions, Stephen Herzenberg shared the Keystone Research Center's top 10 reasons Governor Corbett's pension plan will dig a deeper hole for taxpayers.
  • On housing, Mark Price shared some charts on the Pennsylvania housing market.

IN OTHER NEWS:

  • Congratulations to the honorees of the 2013 Keystone Research Center Annual Awards Dinner: Henry Nicholas, president of the National Union of Hospital & Health Care Employees, who received the Sol Hoffman Award, and the Restaurant Opportunities Center United, which received the Susan C. Eaton Award.
  • Read the Pennsylvania Budget and Policy Center's media statement on the House passage of a 2013-14 budget bill and get the latest budget news here.
  • Read a fact sheet on the Medicaid expansion in Pennsylvania.
  • Read a memo to lawmakers from the Keystone Research Center on how transitioning new public employees to 401(k)-type retirement plans will cost taxpayers more. Read KRC's policy brief on how public pensions inject millions of dollars into local economies across Pennsylvania. Learn more about public pension reform here.
  • Learn more about education in Pennsylvania with data on student enrollment, school funding and more.

MARK YOUR CALENDAR:

Lives Are on the Line in Medicaid Expansion Debate

Cover the Commonwealth: Lives on the Line RallyThis week, hundreds of people from across Pennsylvania took the Capitol by storm to put faces to the debate over expanding Medicaid health coverage in Pennsylvania.

The "Lives on the Line" rally featured a number of speakers who talked about the stress of working full-time without health insurance. One woman named Petrina has diabetes, but her employer doesn't offer health insurance. She had to fight back tears as she talked about the struggle to control her insulin. She is understandably terrified.

10 Reasons Governor Corbett's Pension Plan Will Dig a Deeper Hole for Taxpayers

The Keystone Research Center recently put together the following top 10 reasons the Governor's public pension plan will dig a deeper hole for the state's taxpayers. I thought I'd pass it along here.

On Tap Today: Budget Vote, School Rally & Lives on the Line

Today is a busy day at the State Capitol. Superintendents from cuts-ravaged urban school districts are in town to press for more education funding. Harrisburg, York, Lancaster, Allentown, and Reading, among others, are looking at a third year of deep cuts to student programs.

Housing Issues Discussed On Radio Smart Talk

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This morning you can hear Liz Hersh of the Housing Alliance of Pennsylvania discuss housing issues in Pennsylvania on Radio Smart Talk. If you can't listen now, you can download the podcast later. Below are a few graphs that display trends in housing prices in Pennsylvania over the last few years.

Another Day Older and Deeper in Debt

Last week, the Senate Banking and Insurance Committee in a narrow vote approved Senate Bill 975, opening the door to thousands of predatory payday lenders to come to Pennsylvania and charge fees on short-term loans that equal an annual interest rate of over 300% on a typical two-week payday loan.

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.

PA Pensions Inject Millions into Local Economies

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Pension benefits earned by retired teachers, first responders and public health workers inject millions of dollars into regional and local economies across Pennsylvania, according to a new report from the Keystone Research Center. Statewide, $7.6 billion in pension benefits were paid out to Pennsylvania residents, generating an estimated $13.2 billion in economic activity.

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