More Americans Scraping by on $2 a Day

study by the University of Michigan's National Poverty Center reports that more people are barely making ends meet in an era of too few jobs and a tattered safety net. According to the researchers, 1.4 million American households are living in "extreme poverty."

PA Budget in Fair Shape as Midyear Approaches But Business Tax Cuts Loom

Pennsylvania General Fund tax and other revenue collections are slightly ahead of official estimates through November. This is good news going into budget planning season for 2013-14. Unlike in many of the past few years, 2012-13 funding is less likely to be slashed to cover a midyear shortfall.

Mayors Ask Congress to Enact Deficit Plan that Keeps Cities Strong

Federal deficit reduction must include significant new revenue so that Pennsylvania cities, their residents and local economies can thrive again.

This was a critical point made by several Pennsylvania mayors during a conference call with reporters this week focused on what is at stake for cities in a federal deficit plan. The call was organized by the Pennsylvania Budget and Policy Center.

Great Recession Took a Toll on Youth Employment

A first job is a milestone that too many young people today are not reaching, and it could reduce their earnings throughout their careers, according to a new report from the Annie E. Casey Foundation. The Great Recession is a major culprit, as more youth are competing with out-of-work adults for a limited number of jobs.

Third and State This Week: Listen to Main Street, Tax Cuts Drive State Funding Gap and More on Federal Fiscal Debate

This week at Third and State, we blogged about how corporate tax cuts are contributing to a gap between state expenditures and revenues, an effort to get real small business voices heard in the federal fiscal debate, corporate tax subsidies run amok in the states, a fiscal cliff primer from Springfield's favorite CEO, C. Montgomery Burns, and more.

IN CASE YOU MISSED IT:

  • In response to the state's midyear budget briefing, Sharon Ward shared an infographic showing how unaffordable state business tax cuts are driving a gap between expenditures and revenues in the next budget.
  • On tax subsidies, Mark Price blogged about a New York Times report detailing the tax breaks and credits provided by state and local governments to businesses.
  • On federal taxes, Chris Lilienthal wrote about the Main Street Alliance's efforts to get real small business voices heard in the federal fiscal debate. Mark Price wrote about the different priorities of Pennsylvania's two U.S. senators in addressing federal deficit reduction.
  • On the state budget and other policies, Mark Price blogged about editorial page assessments of Governor Tom Corbett's administration midway through his first term.
  • Finally, we had a Friday Funny featuring Mr. Burns of The Simpsons explaining the fiscal cliff.

More blog posts next week. Keep us bookmarked and join the conversation!

Friday Funny: Mr. Burns Explains the Fiscal Cliff

A little fiscal cliff humor to take you into the weekend.

How About Some Real Solutions to Problems that Do Exist?

With Governor Tom Corbett's first term approaching the halfway point, the editorial pages are settling in on a theme for their assessments of the administration's performance over the last year: not a lot of action on important issues.

Unaffordable Tax Cuts Drive State Funding Gap

Hundreds of millions of dollars in new business tax cuts enacted over the past two years are a major contributing factor to the gap between revenue and expenditures highlighted by Pennsylvania Budget Secretary Charles Zogby during his midyear budget briefing today. The Pennsylvania Budget and Policy Center sums it up for you in the handy infographic below. You can also check out our statement on the midyear briefing here.

Listen to Main Street in Federal Tax Debate

You hear about small business quite a bit in the debate over extending federal tax cuts for upper income earners, even though the vast majority of small business owners do not benefit from those top tax cuts. Only 3% of taxpayers with business income above $250,000 would be impacted if tax cuts for top earners expired next year.

Morning Must Reads: Different Priorities For Different Senators

Proposals to avert the fiscal cliff shouldn't increase poverty or inequality or slow the economic recovery. Those simple common-sense principles appear to be gaining increasing visibility and support, which is the best news this morning.

Syndicate content