Tax Cuts Take a Bite Out of State Budget Pie

Posted by Christopher Lilienthal on March 12, 2013 5:13 pm
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Half a PieAdvocates delivered half a pie to every Pennsylvania legislator today. Why half a pie?

To remind them that a decade of large tax cuts for businesses has left schools, health care services, and local communities with a smaller share of the state budget pie.

Tax cuts enacted since 1999 have drained close to $3 billion this year alone from state coffers. The cost of the tax cuts has more than tripled since 2002, with little to show for it. Too often, these tax cuts are put in place with very little accountability or obligation for companies to create jobs. In fact, Pennsylvania ranked 27th in job growth in 1999-2000 but fell to 34th in 2011-12.

A Mixed Bag for Pennsylvania's January Jobs Report

Posted by Mark Price on March 12, 2013 10:43 am
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A few minutes before 5 p.m. on Friday, the Corbett administration released new data on the state's employment situation in January. The picture that emerged from the data was mixed.

On the one hand, the unemployment rate climbed by three-tenths of a percentage point to 8.2%, while the number of unemployed climbed by 18,000. On the other hand, nonfarm payrolls had a better month than typical with payrolls over the month climbing by 5,200 jobs. 

Podcast: Helping You Understand Education Policy In PA

Posted by Sharon Ward on March 11, 2013 10:44 am
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In my interview with Triad Strategies last week, I discussed the Pennsylvania Budget and Policy Center's new Education Facts Page, which pulls together data and analyses on public, charter and private education in the commonwealth. We hope this web page will inform dialogue around state education funding and how we can provide better supports to students in our schools. Watch the short podcast below.

Education from Triad Strategies on Vimeo.

Third and State This Week: Talking State Budget, February Jobs, Pension Primers, and Income Inequality

This week at Third and State, we shared a podcast on the Governor's state budget proposal and the latest "pension primer" from the Keystone Research Center. We also blogged about the February jobs report, income inequality, a court ruling with implications for state health care funding, and more.

IN CASE YOU MISSED IT:

  • On state budget and taxes, Michael Wood wrote about General Fund revenue collections missing estimate in February. Sharon Ward shared a podcast from her sit down with Triad Strategies where she discussed the governor's state budget proposal and the opportunity to expand Medicaid in Pennsylvania.
  • On jobs and the economy, Chris Lilienthal rounded up the insights of leading national economists on the U.S. jobs report for February. Nonfarm payrolls in February increased by 236,000 jobs, and the unemployment rate fell to 7.7%.
  • On pensions, Stephen Herzenberg shared the Keystone Research Center's latest "pension primer," which focused on how a 2010 law significantly reduced state pension costs going forward.
  • Mark Price shared his op-ed on how we can break the back of rising income inequality in the U.S., published this week in The Guardian.
  • On health care, Chris Lilienthal blogged about a court ruling finding that the diversion of tobacco settlement funds away from health care violated the state constitution.

IN OTHER NEWS:

  • Check out the first three installments in the Keystone Research Center's new series of state pension primers intended to help demystify the often complex details at the heart of the pension debate.
  • Read the Pennsylvania Budget and Policy Center's latest State Revenue Tracker.
  • Check out PBPC's Medicaid Expansion Resource Page, with more information on the federal opportunity to expand state coverage and how you can take action.
  • And view PBPC's Education Facts Page with data on student enrollment, education funding, and school poverty.

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

Some Welcome Job News in February — in Perspective

Posted by Christopher Lilienthal on March 8, 2013 3:12 pm
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This morning the U.S. Bureau of Labor Statistics (BLS) reported that nonfarm payrolls increased by 236,000 jobs. Over the past quarter, the nation has seen average monthly job growth of 191,000. The unemployment rate, meanwhile, fell to 7.7% in February, largely tranks to a drop in labor force participation.

Below are some key observations from D.C.'s leading labor economists on today's jobs report:

Pension Reforms in 2010 Achieved Major Long-Term Savings

Posted by Stephen Herzenberg on March 7, 2013 11:53 am
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Pennsylvania policymakers made significant progress reducing the cost of state pensions with a 2010 law that cut the benefits of future employees, enacted new employee “risk sharing” to protect taxpayers in future economic downturns, and maintained public employee contribution levels that are higher than in most other states.

Wealth Inequality Will Keep Growing Unless Workers Demand Better

Posted by Mark Price on March 6, 2013 11:58 am
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I have an op-ed on The Guardian's web site today examining the problem that we all face in today's economy: income inequality. Give it a read.

Portion of Tobacco Funds Must Support Health Care for Poor, Court Rules

Posted by Christopher Lilienthal on March 6, 2013 10:07 am
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A Commonwealth Court judge has ruled that the diversion of tobacco settlement funds away from health care for low-income Pennsylvanians violated the state Constitution. The Philadelphia Inquirer has more this morning:

A state judge has ordered the Corbett administration to reinstate funding for programs that provided health insurance to tens of thousands of low-income Pennsylvanians.

Podcast Tuesday: Your Two-Minute Look at the Governor's Budget and Medicaid Expansion

Posted by Sharon Ward on March 5, 2013 10:43 am
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I sat down with Triad Strategies Monday to discuss the Governor's 2013-14 budget proposal and the opportunity to expand Medicaid health coverage to hundreds of thousands of Pennsylvanians under the Affordable Care Act. Take two minutes to watch the highlights below.

Revenue Collections Fall Short of Estimates for a Second Straight Month

Posted by Michael Wood on March 4, 2013 11:09 am
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For a second straight month, Pennsylvania General Fund revenue collections fell short of targets, dropping the fiscal year-to-date revenue surplus to $105 million, or less than 1%.

February collections missed estimates by $48 million, or 2.8% of monthly estimates. All major General Fund tax streams, with the exception of corporate taxes, fell short of projections in February, which is typically the smallest month for revenue collections. 

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