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August 31, 2010, 7:41 am
PA SCHOOL PENSION FUND POSTS 14.6 PERCENT RETURN
The Public School Employees Retirement System announced yesterday that the Fund posted a positive 14.59 percent for the fiscal year ended June 30, 2010, outperforming the 12.00 percent median return of the Wilshire Associates Inc.’s database of public pension funds and the 10.87 percent return of the Fund’s custom policy benchmark. PSERS Chief Investment Officer Alan Van Noord reported, “PSERS’ investments rebounded adding over $6 billion in net investment income to the Fund over the past fiscal year and earned well above the Fund’s assumed long-term actuarial investment rate of return of 8.00 percent. Check out the Press Releases section of the PLS Capitol Toolbox to read the full statement.
JOBLESS RATE IN WESTERN PA CLIMBS
According to an article in the Pittsburgh Post Gazette, The Pittsburgh region’s unemployment rate followed the state trend by ticking up one-tenth of a percentage point to 8.4 percent for July, the state Department of Labor and Industry reported this morning. The region also lost jobs. The state reported that the seasonally adjusted number fell by 1,800 jobs in the seven counties that make up the Pittsburgh Metropolitan Statistical Area.
Continue reading Eye Opener – August 31, 2010
August 30, 2010, 7:56 am
SIDES CLASH THIS WEEK OVER GETTYSBURG CASINO
According to an article in the Pittsburgh Post Gazette, the numbers are amazing and show how deep the emotions run on both sides of the Gettysburg casino issue. More than 400 individuals and groups have signed up to speak — some pro, some con — at a public hearing this week on whether the state should license a gambling parlor containing 600 slot machines and 50 table games just south of the Gettysburg National Military Park. Some speakers are strongly opposed to a casino, calling the historic area “hallowed ground” because of the many Union and Confederate soldiers who died during a three-day battle in early July 1863. Click here to read the Pittsburgh Post Gazette article.
CORBETT VOWS TO CUT SPENDING
According to an article in the Patriot News, Tom Corbett says that if he is elected governor, he would make unpopular cuts in state services, even if it meant he would become the state’s first one-term governor in 40 years. At a campaign stop at ASK Foods in Palmyra on Friday, Corbett, the Republican gubernatorial nominee, said steep cuts might be needed
Continue reading Eye Opener – August 30, 2010
August 26, 2010, 8:11 am
CORBETT, TOOMEY STILL LEADING IN LATEST POLL
According to an article in the Patriot News, the Franklin and Marshall College poll released yesterday found that Republican Tom Corbett leads Democrat Dan Onorato 38 to 27 percent in the Governor’s race and Democrat Joe Sestak trails Republican Pat Toomey 40 to 31 percent in the race for U.S. Senator. “Democrats are at a decided disadvantage when it comes to voter motivation,” said F&M pollster G. Terry Madonna. The poll points to ominous signs for Democrats. Voters are pessimistic about the state’s direction, the economy, and the performance of President Barack Obama, Madonna said. And Democratic voters say they are less likely to vote than Republicans. Click here to read the Patriot News article.
DOH REPORTS PENNSYLVANIA’S FIRST HUMAN CASE OF WEST NILE VIRUS OF 2010
The Department of Health reported this year’s first human case of West Nile virus in Pennsylvania yesterday. The individual is a 69-year-old man from Philadelphia County. West Nile virus is spread to people and animals by infected mosquitoes. Usually, the infection does not result in any illness. Older adults and persons with compromised immune systems are at greatest risk of
Continue reading Eye Opener – August 26, 2010
August 25, 2010, 9:30 am
PA LOSES RACE TO THE TOP
Governor Rendell held a press conference yesterday to announce that Pennsylvania’s application for the second round of Race to the Top grant money was rejected by the United States Department of Education. Governor Rendell said Pennsylvania lost by 24 points and missed out on the funds because the state does not have an alternative education certification procedure, did not have statewide participation, and does not have a teacher evaluation system tied to performance. Check out the PLS Capitol Toolbox to read the full story.
OIL INDUSTRY SAYS PROPOSED PROFITS TAX IS ILLEGAL
According to an article in the Pittsburgh Post Gazette, a spokesman for oil companies in Pennsylvania today assailed Gov. Ed Rendell’s call for an 8 percent tax on the gross profits of oil companies. Rolf Hanson claimed the idea has been shown in the past to be illegal and a violation of federal rules on interstate commerce. He added that if it were enacted, it would financially hurt many small oil companies in the state and could cause them to lay off workers. “He’s just plugging an idea he first proposed in early 2007,” said Mr. Hanson,
Continue reading Eye Opener – August 25, 2010
August 24, 2010, 2:21 pm
Governor Rendell held a press conference today to announce that Pennsylvania’s application for Race to the Top grant money was rejected by the federal Department of Education. Governor Rendell said Pennsylvania lost by 24 points and missed out on the funds because the state does not have an alternative education certification procedure, did not have statewide participation, and Pennsylvania does not have a teacher evaluation system tied to performance. “We couldn’t get statewide union support nor could we get legislation but we went around and got 128 school districts to sign off; the superintendents, the school boards and the teacher unions in 128 signed off on our plan,” he stated. “We guaranteed the federal government that in those 128 schools that we would be able to deliver. What happened inmost successful states, if they didn’t get a statewide law, they just got superintendent sign-off they didn’t get union sign off.” Governor Rendell also announced that the Penn State University will receive up to $122 million over the next five years from the Department of Energy to establish an Energy Innovation Hub focused on developing technologies to makes buildings more efficient.
August 24, 2010, 11:11 am
The House Labor Relations Committee held an informational meeting with the Department of Labor and Industry on the implementation of Act 147, amending the workers’ compensation act. Deputy Secretary Elizabeth Crum testified on behalf of the department and gave an overview of the Act’s amendments to the workers’ compensation law and how the department has been handling the changes. Check the Capitol Toolbox later for more.
August 24, 2010, 9:36 am
PENNDOT/REVENUE SECRETARIES BRIEF LAWMAKERS ON FUNDING PLAN
At a unique bicameral/bipartisan caucus meeting, PennDOT Secretary Allen Biehler and Revenue Secretary Daniel Hassel briefed House and Senate lawmakers yesterday on the Rendell Administration’s proposal to address the Commonwealth’s transportation infrastructure funding crisis. At an earlier news conference, Governor Edward Rendell put forth a proposal to enact an 8% tax on the gross profits of oil companies doing business in Pennsylvania and increasing all motor vehicle license fees to the current rate of inflation. According to the Rendell Administration, the proposal would provide $1 billion for highways, bridges and mass transit. Check out the PLS Capitol Toolbox to read the full story.
GOVERNOR’S FUNDING-PLAN A DUD WITH SENATE GOP
Governor Ed Rendell on Monday for the first time proposed a specific plan to raise roughly $1 billion more annually in transportation funding; the latest chapter in what has become the chief executive’s last major proposal before leaving office. But the plan, which includes long-discussed tax and fee increases that have garnered little enthusiasm in the General Assembly, met stiff resistance among Republican leaders, some of whom questioned whether it would even fix the state’s transportation-funding problem.
Continue reading Eye Opener – August 24, 2010
August 23, 2010, 2:23 pm
At a unique bicameral/bipartisan caucus meeting, PennDOT Secretary Allen Biehler and Revenue Secretary Daniel Hassel briefed House and Senate lawmakers on the Rendell Administration’s proposal to address the Commonwealth’s transportation infrastructure funding crisis. At an earlier news conference, Governor Edward Rendell put forth a proposal to enact an 8% tax on the gross profits of oil companies doing business in Pennsylvania and increasing all motor vehicle license fees to the current rate of inflation. According to the Rendell Administration, the proposal would provide $1 billion for highways, bridges and mass transit. Secretaries Biehler and Hassel responded to questions from legislators regarding the proposal and the Commonwealth’s transportation funding needs. Check the Capitol Toolbox later today for the full story.
August 23, 2010, 12:00 pm
This morning Governor Rendell previewed the transportation funding proposal he and Transportation Secretary Biehler will present to the four caucuses later in the day. To generate one billion dollars for bridge, road and mass transit funding, the governor intends to call for a two-pronged approach. First is an 8% tax on gross oil company profits, while exempting those companies from the 9.99% Corporate Net Income Tax. In addition, all motor vehicle license fees would be reset to the current rate of inflation. The annual registration fee for a passenger car, which has not been increased since 1997, would go from $36 to $49 under the plan.
House Appropriations Chair Dwight Evans (D-Philadelphia) said he is committed to reaching a solution, and did not rule out the possibility of a gas tax, though it is not part of the governor’s official proposal. Check the Capitol Toolbox later for the full story on the press conference, and stay tuned to PLS throughout the day for ongoing coverage of the four-caucus legislative transportation caucus.
August 23, 2010, 11:55 am
Governor Rendell announced this morning he has selected Shirley Moore Smeal to replace the retiring Jeffrey Beard as Corrections Secretary. The appointment is retroactive to August 20, when Secretary Beard officially retired from the department. Secretary Moore Smeal was previously executive deputy secretary of the department. She is the first female to serve as Corrections Secretary in Pennsylvania history.
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