January 9, 2012
With a first-year record like Gov. Corbett's, it's a good thing he still has three more years to go. Or maybe not. Another three years could give Corbett time to make some progress, at least, toward pressing issues facing the state - like fixing roads and bridges, or making natural-gas drillers pay their fair share. There even may be time to do something about handgun violence that tragically ends hundreds of Pennsylvanians' lives annually (were the governor not such a gun-rights stalwart)
July 31, 2014 |
Vanguard Group Inc. stands atop the mutual fund business, and credits its "unique" structure: The largest mutual fund company is owned, not by for-profit investors, but by more than 100 of Vanguard's own mutual funds, which are owned by millions of clients. Vanguard says this frees managers to "focus on keeping costs as low as possible," passing savings to clients through lower fees for investment advice and other support services. Vanguard's singular model is now under scrutiny.
March 11, 2012 |
There's budget trouble in Medford, an affluent Norman Rockwell suburb with two newly renovated fire halls, respected schools, and a variety of lush parks. Despite the recent economic turmoil and the township's apparently insatiable demand for amenities, its tax rate stayed flat from 2006 to 2010 and went up only slightly last year. And that is precisely why the Burlington County community now faces a financial emergency, say leaders of the five-member, all-Republican Town Council and a chorus of budget experts.
August 8, 2014 |
In a tucked-away corner of West Mount Airy, officials of a longtime cultural center have been concerned that the sound of bagpipes and the rhythmic clatter of Irish dancing could go silent. Citing financial concerns, leaders of the Commodore John Barry Irish Center, a focal point in the region for all things Irish, from music and dancing to art and history, said it had come close to being forced to shut down. Sean McMenamin, a board member at the center at 6815 Emlen St., said the convergence this winter of increased city taxes, higher-than-usual heating bills, and required upgrades to its 10,000-square-foot, two-story building had put the center in a precarious financial situation.
March 11, 2010
MAYOR NUTTER is constantly crying poor and trying to charge taxpayers more fees or provide fewer services. His new plan is to charge a weekly trash fee to help the city raise needed funds. Then, in the same day's paper is an article on Nutter appointing a former city official to a position heading the Office of Economic Opportunity. In plain English, this position is aimed at getting 25 percent of all city contracts to go to minority- or female-owned businesses. But the real kicker is that her salary will be $135,000.
September 1, 1990
For a country that's short of cash and repelled by Wall Street greed, this proposal sounds like a winner: Tax the sale of stocks and bonds. At a penny for every $2 worth of securities, such a levy would bring in about $12 billion a year. And it would fall most heavily on the fast-buck artists who buy and sell securities for speculative gain, not long-term investment. Or so the pitch goes. Unfortunately, even though the tax sounds small, it probably would jolt financial markets.
May 15, 2011 |
Facing what some see as the most dire funding crisis in decades, school districts across the region are proposing cuts that could drastically reshape their programs and communities. In district after district, officials have proposed budgets notable for what's missing: busing, kindergarten, athletics, librarians, languages, gym classes. Thousands of area school employees are likely to lose jobs, even as taxes in their districts rise. "This is unlike anything we've seen in the last 50 years," said Lou DeVlieger, superintendent of Upper Darby School District, which plans to cut 47 jobs, draw $4 million from reserves, and raise taxes 2.7 percent.
April 12, 2010
MANY have debated the mayor's proposed sugar-sweetened beverage tax, but it would be illegal. Pennsylvania law specifically bans the city from taxing an item that the state already taxes. As anyone who's picked up a six-pack of soda in a supermarket knows, Pennsylvania taxes ALL soft drinks at 6 percent, sugar sweetened or not. Like the state sales tax, the proposed sugar tax would fall on the consumer. If this tax were enacted, we'd pay separate taxes on the same item. In fact, the city designed this tax to fall on the consumer, claiming the goal is to change buying behavior.
January 4, 1990 |
Narberth's 1990 operating budget of about $1.5 million will require no tax increase after all. According to borough manager William Martin, the 3.28-mill tax increase that had been proposed was offset by unanticipated revenue, including a grant from the U.S. Department of Housing and Urban Development to pick up 75 percent of the $80,000 estimated cost of renovating and building an addition to the borough library. Martin said the borough also received about $80,000 not originally figured into the proposed 1990 budget in reimbursement for compensation pay for a police officer out of work since 1984.
December 5, 2013 |
THERE'S A NEW real-estate tax loophole for Philadelphians - and you don't need to be a millionaire to take advantage of it. To limit the huge increases some residents are seeing under the Actual Value Initiative tax-reform effort, the city is launching the Longtime Owner Occupants Program, or LOOP. "I do not create these acronyms, but I think this one is quite interesting," Mayor Nutter said while announcing the program yesterday with City Council members. The program will benefit lower-income homeowners who have been in their homes for at least 10 years and saw their property assessments increase by 300 percent or more this year.