The prolonged battle over the 2009-10 state budget has as much to do with the gubernatorial and General Assembly elections of 2010 as it does with the financial crunch of 2009, say many politicians and Capitol observers. Republicans would love to regain control of the state House next year. They ran it for 12 years starting in 1995, but then narrowly lost control to the Democrats in November 2006. But there’s a bigger prize at stake in 2010. Republicans want to retake the governor’s office, which since January 2003 has been occupied by Democrat Ed Rendell. Read the full Post-Gazette article here.
Aug
25
Without a budget Pennsylvania residents lose vital services, with social service programs among the first to go
In Pennsylvania, day care centers are closing. Food banks and libraries are cutting back. A school district is taking out a multi-million dollar loan. Local governments and social service agencies are struggling to maintain services as lawmakers and the governor battle over how to close Pennsylvania’s $1 billion budget gap. Democrats don’t want to cut too deeply into services, while Republicans don’t want to hike taxes. The budget stalemate is now in its eighth week, leaving state funding for counties, municipalities, school districts and social service agencies frozen. Non-essential state services, such as the state library, are also being slashed. Read the full article from CNN Money here.
Aug
25
Closed mortgage lender Taylor, Bean & Whitaker files for Chapter 11 bankruptcy protection
Taylor, Bean & Whitaker Mortgage Corp. said Monday it filed for bankruptcy protection after moves this month by regulators led to a virtual shutdown of what had been one of the nation’s biggest independent mortgage bankers. Taylor Bean said in a statement that its Chapter 11 filing in U.S. Bankruptcy Court in Jacksonville, Fla., will allow it to operate “on a scaled-down basis and begin the work of recovering, restricting and possibly liquidating its assets.” Recent moves triggered by the Federal Housing Administration’s Aug. 3 suspension of the privately held company’s authority to issue FHA-insured loans “crippled the company’s business operation,” Ocala, Fla.-based Taylor Bean said. Read the full story online here.
Aug
24
Despite high demand, the future of transit looks dim
Despite public transit ridership at its highest levels since the birth of the interstate highway system, nearly 90 percent of transit agencies in the United States have been forced to raise fares or cut service in the past year, a new report says. The report, “Stranded at the Station: The Impact of the Financial Crisis in Public Transportation,” was issued last week by Transportation for America, a nationwide coalition of hundreds of housing, business, environment, public health, transportation, government and development groups and officials. It called the situation “an epidemic that did not have to happen” and urged greater federal support for transit. Read the full Post-Gazette article online here.
Aug
21
Public meeting planned for September 17th to discuss the Intercity Passenger and Freight Rail Plan
A Public Meeting has been scheduled to review the Draft Intercity Passenger and Freight Rail Plan. The draft plan will include goals, objectives, and recommendations (short and long term) for transportation improvements related to rail in the Commonwealth. The plan will enable PennDOT to implement a more efficient and effective approach to intercity rail transportation within the Commonwealth. The meeting will be held in an open house format so community members can stop by to learn about the plan, ask questions and provide written comments. The meeting will take place on Thursday, September 17, 2009 from 6:00 PM – 8:00 PM at the Carnegie Borough Building, One Veterans Way Carnegie, PA 15106.
Aug
21
There is a One in Three Chance You’ll Soon Owe More Than Your House is Worth
Foreclosure rates in the U.S. remain near record highs. More than 13% of American homeowners with a mortgage are either behind on their payments or in foreclosure. The latest report from the Mortgage Bankers Association, released today, shows the percentage of loans that entered the foreclosure process dipped slightly to 1.36%, down from an all-time high of 1.37% in the first quarter. However, that number may soon rise again as mortgage delinquency rates continued to climb in the second quarter. Read the full story online here.
Aug
20
GOP senators fail to override human services vetoes on state budget
Senate Republicans failed to override Gov. Ed Rendell’s vetoes of expenditures for a dozen human services programs, but not before the GOP spent several hours berating the Democratic governor over his budget actions. Twenty-nine Republicans, joined by one Democrat, Sen. Lisa Boscola of Northampton, voted yesterday to overturn the vetoes of a total of $2 billion for rape crisis centers, domestic violence services, child care and day care grants, assistance to veterans, mental retardation programs, drug and alcohol treatment services and grants to college students. Read the full Post-Gazette article here.
Aug
18
State budget crisis leaves the status and future of many human services programs undetermined
The waiting lists for Pennsylvania’s human service programs all have a beginning, but, it seems, none has an end. With Gov. Ed Rendell and legislators unable to agree on how to fill a multibillion-dollar deficit, the fortunes of many state programs are up in the air. But the plunge in state tax collections does not bode well for people waiting their turn for everything from preschool to placements in group homes for mentally disabled adults. Read the full story online here.
Aug
18
State budget impasse affects children’s programs
At least 420 fewer children will be in public early childhood programs in Allegheny County this fall, part of the fallout from the state budget impasse in Harrisburg. The Allegheny Intermediate Unit Friday notified 300 families that their children’s Head Start or Pre-K Counts classrooms will be closed because of a lack of state funding. This amounts to half of the 600 children served by the AIU in state-funded Head Start and Pre-K Counts programs. Those that do operate will start a week late on Sept. 8. The change also will result in the loss of up to 39 jobs. Read the full Post-Gazette article online here.
Aug
17
Top 30 U.S. Housing Markets: Pittsburgh No. 6
They’re easy to overlook, with home prices plunging from Manhattan to Los Angeles and almost everywhere in between. But look at the smaller metros where housing bubbles never took shape, and you’ll find some of today’s strongest markets. Boulder, Colo.; Fayetteville, N.C.; Pittsburgh; Little Rock; and other slow-but-steady metros are now among the nation’s safest markets, and many of the homes in those markets continue to appreciate, if only modestly. Click here to read the article and see the full list.