The House Appropriations Committee continued its budget hearings this morning with the Independent Fiscal Office (IFO). Matthew Knittel, Director of the IFO, gave an overview of the office, the economic outlook and year-to-date revenues and Knittel also fielded questions from committee members on a variety of issues including bonus depreciation, reporting requirements from the IFO and economic modeling. Check out the PLS Capitol Toolbox later today to read the full story.
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Posted by Matt | Tags: Budget, Economy | Category: Budget Hearing, House Appropriations | Comments are closed | Share:
Kicking off House budget hearings this morning, the Chief Information Officer of the Pennsylvania State Employees Retirement System (PSERS) briefed Appropriations Committee members on PSERS’ 2012 global economic outlook and what it means for Pennsylvania and Governor Tom Corbett’s proposed budget. PSERS CIO Alan Van Noord told members he expects a “new normal” of slow growth to continue through 2012, with an overall market psychology remaining somewhere between “irrational despair” and “irrational exuberance.” He noted interest rates will remain low in the US, and corporations continue to hold on to record amounts of cash while adding to their levels of debt. Van Noord identified several troubling trends, including more individuals borrowing against their 401(k)s and opting to rent instead of own property. Overall, Van Noord predicted real GDP growth of 2 percent for 2012, with inflation growing at the same rate. Check the Capitol Toolbox later for the full story, and other coverage of House and Senate budget hearings. Posted by Mike | Tags: Budget, Economy, housing, pensions, PSERS | Category: Budget Hearing, House Appropriations | Comments are closed | Share:
PennFuture this morning announced the release of a report on Act 129 of 2008, which provided for reductions in energy consumption. Courtney Lane, senior energy policy analyst for PennFuture, stated the report found that “The energy savings law is an unqualified success.” She reviewed the economic and environmental benefits of decreased energy consumption and pointed out that every dollar spent on Act 129 has yielded $8 in savings. Look for the complete story and a link to the full report in the “Around the Capital” section of the Capitol Toolbox early this afternoon. Posted by Kim | Tags: Economy, Energy, environment | Category: Press Conference | Comments are closed | Share:
Rep. Bill Keller was joined by fellow legislators and representatives from the AFL-CIO this morning to outline their legislative priorities and to ensure that workers come first. The speakers highlighted the value of the state’s workforce to the economy and argued it is irresponsible to remove options from consideration that could keep Pennsylvanians employed. The speakers also offered their positions on various issues expected to come before the legislature in the next few months, including the privatization of liquor sales. Look for the complete story in the Capitol Toolbox later today. Posted by Kim | Tags: Economy, Employment, labor, liquor | Category: Press Conference | Comments are closed | Share:
About half of the members of the Senate Democratic Caucus this afternoon came together to call for the Senate to get to work on addressing the economy, jobs, and reform. Senator Farnese argued thus far only “wedge issues” are moving in the Senate at a time when the members should be coming together to help Pennsylvanians and close the budget deficit. Look for the complete story in the Capitol Toolbox later today. Advocates of a business-growth plan for Pennsylvania held a press conference to release a report from businesses large and small statewide. Entitled “Growing Pennsylvania’s 21st Century Economy”, the report focuses on how to take advantage of global recovery by becoming more competitive, and lists public policy proposals to achieve this goal. Check the Capitol Toolbox later for the complete story. Posted by lindsay | Tags: blues, business, Department of Aging, Economy | Category: Face to Face, Press Conference | Comments are closed | Share:
The House Democratic Policy Committee met today to discuss issues related to jobs and the economy in Pennsylvania and across the nation. Committee members heard testimony from Mark Price and Stephen Herzenberg from the Keystone Research Center, Sharon Ward from the Pennsylvania Budget and Policy Center, Matthew Brouillette from the Commonwealth Foundation for Public Policy Alternatives and Richard Stein from the Economy League of Greater Philadelphia. Check the Capitol Tool Box later for more information. Posted by intern | Tags: Budget, Department of Aging, Economy, jobs, REAL ID, stimulus | Category: House Consumer Affairs, House Democratic Policy | Comments are closed | Share:
The House Ag Committee heard a presentation from the Penn State Cooperative Extension this morning on the various issues relating to the expansion in drilling in the Marcellus Shale. Representatives from the extension provided a detailed overview of the potential benefits of growing the natural gas drilling industry, and the ramifications that growth would have on the environment, municipalities and the economy. Posted by Kim | Tags: Department of Aging, Economy, international trade agreements, libraries, marcellus shale, natural gas | Category: House Aging, House Agriculture & Rural Affairs, Public/Informational Committee Hearing | Comments are closed | Share:
The House Labor Relations Committee met today with representatives of the Keystone Research Center to discuss the condition of Pennsylvania’s economy and labor force. Dr. Mark Price and Dr. StephenHerzenberg of the Keystone Research Center painted a bleak picture of Pennsylvania’s employment levels for committee members citing a continued rise in unemployment compensation claims. Doctors Price and Herzenberg offered suggestions to the committee on ways to correct employment levels and answered questions from committee members regarding a range of economic issues. Check the Capitol Tool Box later for more information. Posted by intern | Tags: Department of Aging, divorce, Economy, Employment, sexual orientation, unemployment | Category: House Judiciary, House Labor & Industry | Comments are closed | Share:
Senator Specter briefly addressed the media this afternoon to discuss measures that are being taken by the state to help jumpstart the economy and possibly create  more jobs for residents of Pennsylvania. Check the Capitol Toolbox for the story. Posted by intern | Tags: Department of Aging, Economy, Penguins, poverty, Sen. Specter, SEPTA | Category: Face to Face, Press Conference | Comments are closed | Share:
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