Federal Budget and Taxes

Third and State This Week: PA Jobs Update, Special Tax Break Bills, and How Sequestration Got Its Name

This week at Third and State, we blogged about the latest on Pennsylvania jobs, how special tax breaks are coming at the expense of classrooms and communities, and how those across-the-board federal spending cuts became known as "sequestration."

IN CASE YOU MISSED IT:

  • On jobs and the economy, Mark Price blogged about the Pennsylvania jobs report for February. The state's unemployment rate declined slightly, driven by a decline in the state's labor force. Mark also shared an earlier podcast where he explained that weak employment growth and strong labor force growth over the past several months in Pennsylvania meant there have been fewer new job openings available for a growing number of new job seekers.
  • On state budget and taxes, Chris Lilienthal wrote that after making deep cuts to schools, early childhood education, and health services, Pennsylvania lawmakers are now considering new tax breaks that will largely benefit a small number of higher-income earners. Sharon Ward shared another segment of her recent interview with Triad Strategies where she explained that the state cost of corporate tax cuts has more than tripled since 2002, with little to show for it.
  • On federal budget and taxes, Jamar Thrasher blogged about a primer on federal sequestration from Mother Jones magazine that includes how it got that name.

IN OTHER NEWS:

  • The Pennsylvania Budget and Policy Center (PBPC) has more on three special tax break bills moving in the state Legislature that will come at the expense of Pennsylvania schools and communities.
  • Learn more about public pension reform in Pennsylvania at the Keystone Research Center's Pensions Issue Page.
  • Learn more about the federal opportunity to expand health coverage in Pennsylvania at PBPC's Medicaid Expansion Resource Page.
  • Learn more about education in Pennsylvania at 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!

How Sequestration Got Its Name

Posted by Jamar Thrasher on March 19, 2013 10:53 am
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Automatic cuts to federal funding for a broad range of crucial services are in full effect. As the Pennsylvania Budget and Policy Center has written, this so-called federal sequestration will have a direct, disastrous impact on health care, education and jobs across Pennsylvania.

Third and State This Week: Sequestration's Impact on PA, State Pension Primers and Medicaid Expansion

This week at Third and State, we blogged about the impact of federal sequestration cuts on Pennsylvania, how the Governor's pension plan is digging a deeper hole for taxpayers, and New Jersey joining a growing list of states to embrace the expansion of Medicaid under the Affordable Care Act.

IN CASE YOU MISSED IT:

  • On federal budget and taxes, Chris Lilienthal wrote about the direct, disastrous impact federal sequestration cuts will have on Pennsylvania families, children and the economy.
  • On state pensions, Stephen Herzenberg blogged about a new series of "pension primers" from the Keystone Research Center, including the first two installments in that series detailing how the Governor's pension proposal is digging a deeper hole for taxpayers.
  • On health care, Chris Lilienthal blogged about New Jersey Governor Chris Christie's decision to join a growing bipartisan group of governors embracing the opportunity to expand Medicaid health coverage under the Affordable Care Act.

IN OTHER NEWS: 

  • Check out the first two 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.
  • The Pennsylvania Budget and Policy Center has more on the impact of sequestration cuts on the commonwealth.
  • And 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.

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

Senate to Vote on Plan to Avert Worst of Sequester Cuts

Posted by Chris Lilienthal on February 28, 2013 11:29 am
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Update: The American Family Economic Protection Act failed to get the 60 votes needed in the Senate for the bill to proceed to a final vote. The vote was 51-49 in favor of advancing the bill.

Automatic federal cuts to a broad range of crucial services are scheduled to go into effect tomorrow. These cuts will have a direct, disastrous impact on Pennsylvania families and children, and leading economists have warned of the damaging impact it will have on job creation and our economy. 

The Senate has an opportunity today to take a first step toward halting these across-the-board cuts, known as sequestration. The American Family Economic Protection Act is up for a vote; if enacted, it would delay cuts until January 2014 to give Congress time to develop a balanced approach to deficit reduction.

New Jersey Becomes Latest to Embrace Medicaid Expansion. How About It, PA?

Posted by Chris Lilienthal on February 26, 2013 3:17 pm
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Chris Christie is the latest to join a growing bipartisan group of governors embracing the opportunity to expand Medicaid health coverage under the Affordable Care Act. The New Jersey governor announced his decision during his budget address today. The Star Ledger has more:

Third and State This Week: Minimum Wage, No Go on Lottery Privatization, State Revenue Update and a Look Ahead

This week at Third and State, we blogged about structuring the minimum wage to ensure low-wage workers are sharing in the growing economic pie, why lottery privatization was bad policy (as well as being illegal), a check in on the President's State of the Union, a look at state revenue collections in January, and more.

IN CASE YOU MISSED IT:

  • On jobs and wages, Stephen Herzenberg wrote that a minimum wage that keeps pace with productivity growth would allow workers at all income levels to share in the expanding economic pie.
  • On privatization, Stephen Herzenberg blogged that the Attorney General's rejection of a contract to privatize the lottery is good news for Pennsylvania and the future of senior services funded by the lottery.
  • On state budget and taxes, Michael Wood provided an update on state revenue collections, which came in slightly below estimate in January but remain ahead of targets for the fiscal year.
  • Finally, Mark Price offered his take on President Obama's State of the Union address, notably the President's plan to increase investments in infrastructure and universal pre-kindergarten education, and his proposals to reduce inequality.

ON FACEBOOK:

  • Check out photos from the kick off of the "Cover the Commonwealth" Campaign. More than 150 advocates came to Harrisburg to urge Governor Corbett and lawmakers to take advantage of a federal opportunity to draw down $43 billion in funds to strengthen the state's health care economy and expand coverage to hundreds of thousands of Pennsylvanians.
  • Pittsburgh City Paper has some interesting infographics on the Governor's budget proposal, using analysis from the Pennsylvania Budget and Policy Center.
  • Like us on Facebook: Keystone Research Center & Pennsylvania Budget and Policy Center.

A LOOK AHEAD:

  • The Pennsylvania Budget Summit is less than a week away. Register today for the Summit on February 21 in Harrisburg. It offers an in-depth look at Governor Corbett's budget, the latest on the federal budget, and what it all means for families and communities across the commonwealth.

With the President Promising to Reduce Inequality, the Devil Will Be in the Details

We were hoping to hear President Obama in his State of the Union address underline his commitment to taking on our greatest short- and long-term challenges: persistent high unemployment and rapidly growing inequality.

Third and State This Week: PA Among Top 10 Most Regressive Tax States, Liquor Privatization and Latest Jobs Report

This week at Third and State, we blogged about a new study finding Pennsylvania is among the "Terrible 10" most regressive tax states in the nation, the lost revenues and increased social costs that would come with privatization of the state liquor stores, what the latest national jobs report means, and much more.

IN CASE YOU MISSED IT:

  • On state and local taxes, Chris Lilienthal blogged about a new study from the Institute on Taxation and Economic Policy finding that middle- and low-income working families in Pennsylvania pay a far higher share of their income in taxes than the wealthiest earners. Chris had a follow up post that looked at how Pennsylvania taxes compared to neighboring New Jersey and West Virginia. We also blogged about what a progressive tax system should look like.
  • On privatization, Stephen Herzenberg responded to Governor Tom Corbett's plan to privatize liquor stores by highlighting the likely impacts: an increase in excessive alcohol consumption and its related negative impacts as well as the loss of some of the nearly half a billion dollars in revenues generated by the state system.
  • On jobs and the economy, Mark Price wrote that in light of January's national jobs report, the recovery remains on track, but the pace of job growth is perilously slow.
  • And on education and the state budget, Chris Lilienthal shared a news report on Budget Secretary Charles Zogby's address to the Pennsylvania Press Club, and the "false choice" he presented between education funding in the next budget and changes to state pensions.

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

January Jobs Report: Good But Not Good Enough

This morning the U.S. Bureau of Labor Statistics (BLS) reported that the unemployment rate edged up slightly to 7.9% in January as nonfarm payrolls increased by 157,000 jobs. January's jobs figure was somewhat below the average gain in the previous three months (201,000).

On the whole, the recovery remains on track, but the pace of job growth remains perilously slow.

Third and State This Week: Union Membership, Tax Loopholes and a Medicaid Opportunity Too Good to Pass Up

Posted by Third and State on January 25, 2013 6:28 pm
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This week at Third and State, we blogged about a new report on union membership, tax loophole bills approved by a state House committee, Republican governors opting in to the expansion of Medicaid and more.

IN CASE YOU MISSED IT:

  • On a new report on union membership, Stephen Herzenberg channeled Mark Twain to write that the reports of unions' death are greatly exaggerated.
  • On state budget and taxes, Michael Wood blogged about two bills that passed the House Finance Committee this week and would create new loopholes in Pennsylvania's tax system.
  • On health care, Sharon Ward wrote about growing bipartisan agreement that the optional expansion of Medicaid under the Affordable Care Act is too good an opportunity to pass up.
  • On the federal budget, Chris Lilienthal shared a table from the Center on Budget and Policy Priorities showing how much in across-the-board federal cuts are slated to take effect in March under the fiscal cliff deal.

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

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