Economy

Third and State This Week: Health Law Saves Consumers, Upward Social Mobility, & More on State Revenue Outlook

This week at Third and State, we blogged about a key provision of the Affordable Care Act that ensures health insurance companies spend most premium dollars on direct medical care, shared an op-ed on what works when it come to upward social mobility, and provided more analysis on the state's revenue outlook for 2013-14.

IN CASE YOU MISSED IT:

  • On health care, Chris Lilienthal wrote about a key reform in the Affordable Care Act that requires health insurance companies to spend 80% to 85% of premium dollars on direct medical care or issue rebates to consumers.
  • On jobs and wages, Stephen Herzenberg shared his PennLive.com op-ed on a new report providing the most detailed information yet on what works — and what doesn’t — when it comes to keeping the American Dream alive.
  • On state budget and taxes, Michael Wood filed two blog posts about the official state revenue estimates for 2013-14 --  the first looking at why corporate tax collections are projected to decline, and the second examining what's expected with personal income and sales tax collections.

IN OTHER NEWS:

In recent weeks, the Keystone Research Center and Pennsylvania Budget and Policy Center have released the following publications:

  • The Pennsylvania Budget and Policy Center published an analysis of the 2013-14 General Fund official revenue estimates, a briefing paper on how Pennsylvania's Marcellus Shale impact fee comes up well short of natural gas severance taxes in Texas and West Virginia, and a press release on the pending cut to federal nutrition assistance.
  • The Keystone Research Center published a briefing paper and press release about a new landmark study showing that Pennsylvania enjoys substantially more upward mobility than many other parts of the United States.

IN THE MEDIA:

The staff and research of the Keystone Research Center and Pennsylvania Budget and Policy Center were featured in the following news reports and radio interviews in recent weeks:

Pennsylvania: State of Opportunity?

I wanted to share my PennLive.com op-ed today on a new report offering Pennsylvania some optimism when it comes to upward social mobility but also serving as a warning for lawmakers on the policies they pursue.

Third and State This Week: Nutrition Assistance Cuts, Fast Food Worker Strikes, Modest State Revenue Growth & More

This week at Third and State, we blogged about a pending cut and other threats to federal nutrition assistance, what the one-day strikes by fast food workers tell us about the future of the middle class, a post-recession pay cut for the nation's low-wage workers, state revenue growth in the year ahead, and the role of public safety net programs in keeping people out of poverty.

IN CASE YOU MISSED IT:

  • On food insecurity, Chris Lilienthal blogged about a report on the significant impact that a pending cut in nutrition assistance will have on low-income families across Pennsylvania and the nation. He also shared a New York Times report on a new study finding that additional cuts proposed by the U.S. House would cost more than 5 million Americans needed food assistance.
  • On unions and the economy, Stephen Herzenberg wrote that the fast food workers engaging in one-day strikes across the country may be on the verge of cracking the code to the next U.S. middle class.
  • On income inequality, intern Ellis Wazeter blogged about a recent study showing that low-wage American workers have taken a post-recession hit to their paychecks.
  • On state taxes, Michael Wood shared a chart showing that General Fund revenue collections are projected to grow very little in the 2013-14 fiscal year.
  • And on poverty, Chris Lilienthal passed on a blog post by Arloc Sherman of the Center on Budget and Policy Priorities highlighting just how much public safety net programs have helped keep people out of poverty in the United States.

IN OTHER NEWS:

'This Is What the Middle Class Looks Like' ... Fast Food One-day Strikes and the Next Upsurge in Unionism

"This is what democracy looks like." Even though this chant originated with the Seattle protests against the World Trade Organization (WTO), which haven't yet led to major reforms, the phrase nonetheless captures the idea of a social movement that has crystallized its demands and has a better chance to succeed because of it. Other examples include the right to vote in the civil rights movement, or the fight to legalize gay marriage, a simple modern demand that culminates a fight for equality in all its dimensions.

Low-wage Workers Take Post-Recession Hit to Paycheck

By Ellis Wazeter, Intern

Since the end of the recession, Americans working in low- and mid-wage occupations have taken a bigger hit to their paychecks than their counterparts in higher-paid jobs, according to a study by the National Employment Law Project (NELP).

Third and State This Week: Upward Mobility, Pittsburgh and Detroit, Revenue Wrap, and Diversion Politics

This week at Third and State, we blogged about a new study showing the American Dream of upward mobility is more alive in Pennsylvania than in many parts of the country. We also wrote about 2012-13 revenue collections and a well-oiled effort to distract middle-class families from the real cause of their economic struggle. Plus, a guest post on how Pittsburgh avoided Detroit's fate.

IN CASE YOU MISSED IT:

  • On wages and mobility, Stephen Herzenberg blogged about a new study by Harvard and Berkeley economists showing that Pennsylvania enjoys substantially more upward mobility than many other parts of the United States.
  • On state budget and taxes, Michael Wood explained some of the key takeaways from General Fund revenue collections in the 2012-13 fiscal year.
  • On nutrition assistance, Stephen Herzenberg responded to the latest salvo in an organized right-wing assault on nutrition assistance and other safety net spending. Steve wrote that the real kitchen table issue facing most Americans is rising income inequality.
  • And on the Marcellus Shale and the economy, guest blogger Tim Stuhldreher shared his thoughts on why Pittsburgh has fared much better than Detroit after taking huge economic hits in the 1980s. Hint: it is not all about shale drilling.

IN OTHER NEWS

Guest Post: It Wasn’t the Shale, Yinz

By Tim Stuhldreher
Originally published at Tim Stuhldreher's Blog

Paul Krugman muses on why deindustrialization left Detroit a basket case, but not Pittsburgh. Both metros were one-industry towns well into the 1970s (cars in Detroit, steel in Pittsburgh). Both took huge economic hits in the 1980s when the factories closed and the jobs went away. Yet today Detroit is a bankrupt wasteland, while Pittsburgh isn’t doing too badly. What’s the difference?

Third and State This Week: Fewer College Grads Starting Businesses and State Revenue Collections in 2012-13

This week at Third and State, we blogged about student loan debt deterring college grads from starting their own businesses, income inequality and efforts to turn back prevailing wage laws for construction workers, and revenue collections during the now-completed 2012-13 Fiscal Year.

IN CASE YOU MISSED IT:

  • On higher education, Jamar Thrasher blogged that more and more American college graduates are declining to start their own businesses partly because of the rising costs of tuition and crushing student loan debt.
  • On income inequality and the prevailing wage, Stephen Herzenberg wrote that too many people in the "1%" (and the smaller groups at the very, very top) seem to have convinced themselves that they are not only more deserving but also somehow different than — better than — other people.
  • And on state budget and taxes, Michael Wood shared the following chart tracking monthly revenue collection trends in the now-completed 2012-13 Fiscal Year.
    2012-13 General Fund Revenue Surplus/(Deficit) by Month

STATE BUDGET RESOURCES:

$1 Trillion in Student Loan Debt Hampering Young Entrepreneurs

It appears more and more American college graduates are declining to start their own businesses due to the rising costs of tuition and crushing student loan debt. Bloomberg examines the obstacles facing young entrepreneurs:

Third and State This Week: Budget Analysis, Food Security Danger, Unremarkable Private Job Growth & Payday Lenders

This week at Third and State, we blogged about the state budget, the danger facing America's leading food security program, Pennsylvania's unremarkable private-sector job performance, and a gambit by payday lenders that backfired.

IN CASE YOU MISSED IT:

  • On state budget and taxes, Sharon Ward shared the Pennsylvania Budget and Policy Center's detailed analysis of the 2013-14 budget, and Michael Wood explained that tax changes enacted along with the budget made some steps toward reform but weigh the state's Tax Code down with more special interest tax breaks.
  • On the federal budget, Sharon Ward wrote that legislation separating agricultural programs from nutrition supports funded through the farm bill poses a threat to food assistance for millions of struggling parents, children, and vulnerable citizens.
  • On jobs, Stephen Herzenberg blogged that Pennsylvania’s private-sector job growth has almost stalled since about a year into Governor Corbett's term.
  • On consumer protection, Mark Price explained how payday lenders won few friends in the state Senate when they convinced House leaders to insert language into a must-pass Fiscal Code bill stating it was the intent of House and Senate leaders to enact payday legislation in the fall.

STATE BUDGET RESOURCES:

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