Third and State

This week at Third and State, we blogged about a new revenue report from the Independent Fiscal Office offering a more upbeat view of the economy moving forward, and the likely impact of a state House-approved bill to reduce corporate taxes by nearly $1 billion by the end of the decade. We also posted Morning Must Reads on payday lending legislation and the economic cost of an asset test for Pennsylvanians in need of food assistance.

IN CASE YOU MISSED IT

• On the state budget, Sharon Ward blogged about the Independent Fiscal Office's new report predicting a smaller revenue shortfall for the current year and more robust revenue collections for 2012-13. Mark Price also had analysis on the new revenue report, noting that state budget cuts have hurt job growth.
• On tax policy, Chris Lilienthal wrote about the House's approval of a plan to reduce corporate taxes by nearly $1 billion by the end of the decade without any commitment from businesses to put Pennsylvanians back to work. Sharon Ward shared her Philadelphia Inquirer op-ed on this bill and a memo she sent to editors and reporters outlining her concerns with the bill.
• Finally, Mark Price had Morning Must Reads on legislation in the state House to legalize payday loans charging upwards of 300% in annual percentage rates, and the lost economic activity from implementing an asset test for people receiving food stamps.

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

This week at Third and State, we blogged about state legislation that would cut corporate taxes by close to a billion dollars by the end of the decade, what inequality has to do with the funding of infrastructure, the Philadelphia Food Stamp Challenge, payday lenders eyeing a return to Pennsylvania, and more.

IN CASE YOU MISSED IT

• On the state budget, Sharon Ward highlighted concerns about a state House bill that would cut corporate taxes by close to a billion dollars by the end of the decade.
• On income inequality, Chris Lilienthal blogged about a recent op-ed connecting inequality with an underfunding of the nation's infrastructure. In Morning Must Reads on inequality, Mark Price shared a New York Times analysis on increasing income inequality in America and an editorial on the "festering problem" of exorbitant CEO pay.
• On poverty and food assistance, Chris Lilienthal blogged about the Philadelphia Food Stamp Challenge going on this week and the importance of food assistance to Pennsylvania families struggling in this economy.
• On the financial industry, Mark Price had a Morning Must Read highlighting news coverage of an effort by payday lenders to advance legislation in Pennsylvania allowing interest rates on short-term loans as high as 419%.
• Finally, Mark Price had a Morning Must Read on rising mortgage foreclosures and an effort to provide better disclosure of fees for 401K plans.

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