Archives: Pension Reform / Articles
Archives: Pension Reform / Articles (page 4)
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The Williams Report
Budget: Alaska: Alaska Legislature Will Likely quit for the Summer Without a Fiscal Plan, or Even a Capital Budget Connecticut: Malloy Details How He Would Manage the State…
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Pension Obligation Bonds Could Unravel Pension Reform Victory
Issuance of POBs will negate the recent pension reform victory by shifting current pension costs to future taxpayers and gambling the commonwealth’s fiscal health on risky arbitrage.
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ALEC Applauds Michigan’s MPSPERS Pension Reform Efforts
This reform package preserves retirement security for existing and future employees while putting in place a more fiscally sustainable benefit for new workers. Both teachers and taxpayers win.
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Pennsylvania Passes Bipartisan Pension Reform
By preserving retirement security for existing and future employees while putting in place a more fiscally sustainable benefit for new workers, both public employees and taxpayers win.
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The Williams Report
Budget: Alaska: Budget Standoff Continues as House Votes to Double Permanent Fund Dividends The state government will partially shut down on July 1st if no resolution reached. California:…
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Illinois Must Dig Itself Out Of The Fiscal Ditch
Finger-pointing is rampant in Illinois as the state’s credit rating has been downgraded by S&P and Moody’s to near junk status, the lowest ever for a state. Without…
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State of the State: Illinois
From Illinois’ crushing taxes and regulations to the state’s fiscal problems, it is easy to see why people are voting with their feet and leaving the state at disproportionately high rates. If the Land of Lincoln wishes to stop the bleeding, Governor Rauner can’t be the only one with good ideas—members of the General Assembly and the general public need to get behind necessary reform efforts to save the state.
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The Williams Report
Budget: Colorado: Hickenlooper Signs $26.8 Billion State Budget That Avoids “Draconian Cuts” to Hospitals, Schools The Governor signed a $26.8 billion spending plan that increases school funding…
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Taxes, Pensions and Free Speech On Display in Salt Lake City
The ALEC Center for State Fiscal Reform recently hosted a successful regional Tax and Fiscal Policy Academy, with Utah legislative hosts Senator Wayne Niederhauser, Senator Stuart Adams and Representative Kim…
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State of the State: Ohio
A renewed focus on reforms-rather than government micromanagement-can ensure the governor’s homestretch is one of continued economic renewal.
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State of the State: New Hampshire
Despite the Granite State’s strengths and Sununu’s proposals, there remains work to be done. For example, the top marginal tax rate for corporations is a steep 8.2%; and although New Hampshire doesn’t have a personal income tax or sales tax, it does have the highest property tax burden in the nation. New Hampshire also ranks a lackluster 37th in the nation in terms of burdensome regulations according to the Pacific Research Institute. Furthermore, the recently released ALEC report Unaccountable and Unaffordable 2016 ranks the state’s pension funding level at 43rd nationally. Using a risk-free rate of return of 2.344 percent, New Hampshire’s state pensions are unfunded in excess of $13,000 per capita with a funded ratio of just 28 percent.
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The Williams Report
General: Huffington Post Bob Williams column: How to address states’ budget deficits: performance-outcome budgeting Budget: Alabama: Lawmakers pass Alabama state budget Arizona: Governor signs $9.8 billion state budget…
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State of the State: Vermont
With Vermont’s economic outlook continuing to languish at 49th (according to the American Legislative Exchange Council’s Rich States, Poor States publication), legislators may be ready to take the governor’s charge to heart: “We must act now, and begin our ascent.”
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State of the State: Michigan
Fortunately, the governor recognizes that the government can best enable growth by removing artificial obstacles to entrepreneurs: “Over the last few years we dumped the dumbest tax in America, we cut needless regulations, we started paying down our long-term debt, we started saving for the future, we laid the groundwork for success we have today so our businesses could create jobs. We create the environment for job creation, we don’t create those jobs.”
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The Williams Report
Budget: General: Steve Ballmer Says Numbers and Facts Still Matter Former Microsoft CEO Steve Ballmer is spending $10 million to develop website USAFACTS in order so show “what is…
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The Williams Report
Budget: Alaska: Fate of Competing Plans to Close State Budget is Uncertain California: Despite Increases in State Funding to Schools, Budget Concerns Rise Due to Pension Costs Colorado:…
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The Williams Report
Budget: Colorado: Colorado’s Budget Shortfall Grows State expenses are growing faster than revenue. Delaware: Governor Carney Presents Budget Reset Plan for Fiscal Year 2018 To close…
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State of the State: California
The governor is right: we cannot “construct some alternate universe of non-facts that we find more pleasing.” California’s economic outlook currently ranks 46th nationally, according to Rich States, Poor States. Ignoring the impending fiscal collapse due to unfunded pension liabilities, failing to reduce the onerous tax burden, and pretending that a state carbon emissions crackdown will alter global climate only will force others to flee Governor Brown’s vision of the future.
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State of the State: Kentucky
On a very bright note, Bevin signed legislation into law earlier this year that officially made Kentucky a right-to-work state, an important step in attracting business and expanding freedom of choice for workers on the decision regarding unionization. A continuation of this spirit of reform bodes well for the state’s future.
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State of the State: New Jersey
The governor praised legislators for reducing the state sales tax and increasing the exclusions for the state’s estate tax; but he failed to mention the tax cut savings are almost entirely offset by the enormous 23-cent per gallon increase in the gas tax. This year’s sales tax reduction of 0.125 percent will save consumers a whopping $1.25 on a $1,000 purchase; meanwhile, the gas tax hike will cost twice this much on a single 11 gallon fill-up.