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Showing posts with the label revenue

What We Know So Far About the "Fiscal Cliff" Deal: Part 1 of 3 on the Fiscal Cliff

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As many of you have heard, the "fiscal cliff" has been averted following House passage of a Senate bill to prevent large cuts in spending and large tax increases. Details of the bill are still emerging, but here is what we have seen so far: Income Tax Rates : Income tax rates will increase for single workers earning more than $400,000 and families earning more than $450,000.   Income tax rates in this bill will be considered "permanent," as opposed to the Bush tax cuts of 2001, which were considered temporary.   Payroll Taxes : Payroll taxes will increase for workers at all incomes, with the Social Security tax returning to 6.2% on a worker's first $113,700 in wages.  This tax was temporarily set at 4.2% two years ago. For a worker earning the national average of $41,000, this increase comes to about $32 more per biweekly paycheck. ( Here is our Facebook post describing payroll taxes .) Tax Credits : There will be a five year extension of the tax credits...

State and Federal Budget Briefing - 10/18

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On Thursday, Oct 18th at 1 pm, experts from the Pennsylvania Budget and Policy Center will offer a look ahead at next year's state and federal budgets, as Congress faces dramatic budget choices that will have a deep impact on our ability to provide services Delaware County families depend on. Governor Corbett is also at a choice point, and there are some signs of a course correction in PA this coming year. Also, a hundred days after the passage of this year's state budget, what impacts has the region felt? Event details are as follows: State and Federal Budget Briefing Thursday, October 18th at 1pm United Way Building 1709 Benjamin Franklin Parkway, Lobby 1 Philadelphia, PA 19103 Click here to RSVP , and circulate widely. Event cosponsored by the SEPA Budget Coalition and the Better Choices for PA Coalition.

Share Your Thoughts on House Bill 2626

From our friends at the  Pennsylvania Budget and Policy Center : The Pennsylvania General Assembly is considering legislation that would allow many Pennsylvania employers to hold on to the state income taxes paid by new employees. House Bill 2626, billed as an economic development strategy, provides a multi-year subsidy for existing companies to do what they do anyway: fill vacant positions. The bill is costly and will lead to more cuts to schools and services for children, seniors and people with disabilities. Please share your thoughts with your state lawmakers on this tax giveaway . The Pennsylvania Budget and Policy Center has put together the Top 10 reasons why they feel this tax credit plan is a bad deal for Pennsylvania's taxpayers. Download a  printable version  of this  Top 10 List  at the  PA Budget and Policy Center's website .

PathWays PA E-Newsletter: July 30, 2012

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Federal Policy Updates  A JOB SHOULD LIFT YOU OUT OF POVERTY, NOT TRAP YOU IN IT Women who earn minimum wage are struggling to make ends meet. The current minimum wage at $7.25 an hour can not support our families. If you support raising the minimum wage sign this petition today . What would raising the federal minimum wage do? Rebuild our economy. For every $1 added to the minimum wage, low-wage worker households spend an additional $2,800 the following year. Ensure a better future for our children. 21.5 million children have a parent who would benefit from a minimum wage increase.  Increase jobs. Increasing the minimum wage would boost consumer spending, which drives 70% of our economy.  Sign this petition today because we deserve the opportunity to work hard and earn enough to support our families! For more information on the benefits of increasing the minimum wage please check out the National Women's Law Center fact sheet . From our friends at 9t...

Special Budget Alert - April 11, 2012

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State In the past month, Pennsylvania collected higher than expected revenues , with $4.1 billion entering the General Fund in March 2012. This amount represents a 2.4% increase over projections. A small part of the additional revenue can be traced to Pennsylvania’s casinos, which posted record profits for the month, adding $126.5 million in tax revenue . Although the Secretary of Revenue is still reporting a $389 million dollar loss for the year, the increased funds could mean a lower than expected total loss. According to the Pennsylvania Budget and Policy Center, the Governor’s budget assumes a loss of $719 million, and the additional revenue could be used to ameliorate some of the cuts in the Governor’s budget. In looking at other ways to raise revenue, citizens, advocates, and lawmakers have been putting forth ideas for preventing this year’s budget cuts before they happen. In late March, the Better Choices for Pennsylvania Coalition held a press conference in Harrisburg a...

PathWays PA E-Alert: February 27, 2012

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State Call-to-Action for Public Education In February, Governor Corbett gave his Budget Address and cemented the $900 million dollar cuts he gave to public education funding.  These cuts have lead to increases in class size, the closure of school buildings, the elimination of successful programs such as full-day kindergarten and tutoring and the loss of many instructional and support staff, who teach and take care of students. On March 5, Education Voters of Pennsylvania will hold a Call-to-Action day to encourage individuals to share their thoughts on education cuts with legislators. To learn more and to participate, please visit http://www.educationvoterspa.org/index.php/site/news/call-to-action-for-public-education11/ . Funding for Emergency Mortgage Assistance The issue of the Homeowner’s Emergency Mortgage Assistance Program (HEMAP) is becoming very prominent in Harrisburg and the news media at this time. The Governor’s budget includes no funding for HEMAP, a loan ...

It's Freezing in Pennsylvania - the Budget, That Is

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While many of us in Pennsylvania are shivering through the first real cold spell of the winter, Governor Corbett's budget announcement yesterday sent new shivers through many programs and services already struggling in a tough economy.   The projected $486 million revenue shortfall led to the Governor's proposal to "freeze" $160 million in spending.  ( For further analysis of the revenue shortfall, please visit this link from the Pennsylvania Budget and Policy Center. ) While this funding could be made available again in the fiscal year if revenue picks up, in most cases, budget freezes equal budget cuts. Below is a partial list of the cuts made to programs - for a full list, visit  http://www.portal.state.pa.us/portal/server.pt/document/1214310/12_01_04_2011_12_freeze_tr_web_pdf . Not all line items were frozen. Below are some important items that remain at the same funding levels: Farmer's Market Food Coupons: $2,079,000 State Food Purchase: $17,338,...

How Are State Budget Cuts Affecting You?

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Please RSVP to http://stopcutstoourcommunity.eventbrite.com Or call Kate at 215-563-5848 x16 The cuts to the state budget this year have already had a devastating effect on our families, our services, our county, and our state. Now is the time to tell legislators what we need to succeed in future budgets. PathWays PA and the Southeastern Pennsylvania Budget Coalition are cosponsoring an event with legislators on Thursday, October 27th at noon to discuss the impact of state budget cuts on local families struggling in this difficult economy. The discussion will have consequences: legislators are debating a tax on natural gas drilling that could infuse close to half a billion dollars into our schools and services for children, people with disabilities, and families reeling from the recession. The public event is from 12 -1 on Thursday, October 27th at Media Borough Hall, 301 N. Jackson Street, Media, 19063.  We have invited the DelCo legislative delegation. As a bonus,...

Talk with White House Staff About Deficit Reduction and Jobs Creation

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From our friends at the Coalition on Human Needs Please join us in a conversation with White House staff about the President's New Deficit Reduction and Job Creation Plan: 2:00 p.m. Eastern time on Thursday, September 22 Call 800-401-8436 The President's just-announced plan, Living Within Our Means and Investing in the Future , is a comprehensive approach to solving the nation's short- and long-term problems. It includes the American Jobs Act, legislation investing $447 billion to fund teachers and public safety workers, modernize schools and other infrastructure, target job creation in low-income communities, provide extra help to long-term unemployed, youth, and other especially vulnerable groups, and protect the jobless with an extension of federal Unemployment Insurance. It also includes $1.5 trillion in revenues from progressive sources as part of its 10-year deficit reduction plan. You may have heard the President speak of the "Buffett rule" - s...

This Week in Harrisburg - August 8-August 12, 2011

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The legislature remains in recess, but has been holding several public hearings ranging from Natural Gas to Child Labor. In addition, Pennsylvania slot machines hit a monthly record this July as $218.3 million dollars were collected in revenue. This increase is largely attributed to the opening of the tenth casino in Pennsylvania this past fall. In July 2010 only 24, 903 slot machines were operating statewide. This figure increased to 26,403 in July 2011 leading to an increase in revenue and an increase in tax dollars as Pennsylvania collected 3.4 percent higher profits from the casinos in 2011 than 2010. This led to a collection of $118.8 million dollars by the state. Not all slot machines were accruing successful profits though, as the nine previously open casinos suffered losses this July. Their slot machine revenue was down 3.5 percent in July compared to 2010’s revenue. This is observed as Mohegan Sun at Pocono Downs suffered a 2.4 percent decline in revenue to $20.7 mill...