November 21, 2014 |
Montgomery County's commissioners on Thursday presented a $371 million budget proposal for 2015 that would slightly cut expenditures while expanding services and holding the line on taxes. While overall spending would decline 2.5 percent, most of that comes from cuts at Parkhouse, the county nursing facility privatized early this year. The budget calls for an additional $1 million to the human services department, $818,000 more to Montgomery County Community College, and seven new adult-probation officers.
November 12, 2014 |
Defense contractor Lockheed Martin will receive $107 million in tax credits to operate in Camden, the state Economic Development Authority said Monday. The company will create laboratory facilities in two downtown buildings and move about 250 jobs from the company's headquarters in Moorestown, according to the EDA. The company also has a laboratory in Cherry Hill. The company told the EDA that some of the jobs that will go to Camden are in danger of being eliminated due to increased competition in the defense industry, and that the subsidy will help save them.
November 11, 2014
PENNSYLVANIA government is in deep financial trouble and could be facing a $1 billion-plus deficit next year. That is not rhetoric left over from this year's election campaign. It is the judgment of three professional, nonpartisan rating firms that evaluate and rate state and local finances. When Fitch, Standard & Poor's and Moody's Investors Service speak, Wall Street listens. All three lowered Pennsylvania's rating this year, which means that taxpayers will pay higher interest on the hundreds of millions of dollars in bonds floated each year by the state.
November 11, 2014 |
All right, Republicans, here's your chance to help us on the tax front. Congress has not passed any of more than 50 tax provisions that have already expired in 2014. But it has the ability to pass what are referred to as "extenders" for the 2014 tax season. Delays in these extenders could postpone the start of the 2014 tax season, causing financial complications for millions of Americans, says Sandra G. Johnson, president of the National Conference of CPA Practitioners. "Once again, the American public is asked to wait on Congress to pass the extenders.
November 10, 2014
ISSUE | WOLF AGENDA Gas, but will it go? Gov.-elect Tom Wolf has a few fracking problems. First, Republicans gained seats in the legislature, making it harder for Wolf to fulfill his campaign promise of a shale tax. Second, with the recent drop in oil prices, fracking is barely profitable, and the boom is about to turn into a bust. So, assuming he can even pass a shale tax, how is he going to fund education on a busted boom? Finally, how would a tax make up for the suffering of residents near fracking sites?
November 10, 2014 |
THE SHELVES of Ray Martinez's West Philadelphia corner store are stocked full of unopened cigarette packs. Martinez said he's had trouble selling them since the city's $2 cigarette tax to help public schools went into effect Oct. 1. Sales are down about 80 percent, he said, essentially killing the business. "Right now we're not making no money at the corner stores," said Martinez, who owns Ray's Food Market on Girard Avenue near 54th Street. "The stores right here in West Philly, we're like three to five minutes away from City Line [Avenue]
November 8, 2014 |
THE UNION that owns the Delaware riverfront site of the Democratic City Committee's biggest, most expensive soirees also has a big, expensive property-tax debt. The Sheet Metal Workers Union, Local 19, owns a 25-acre plot on Columbus Boulevard just south of Washington Avenue. The union uses one building on the land for training; another holds Penns Landing Caterers. Next to those buildings is a 9-acre plot that the union owns, 50/50, with real-estate developer Eric Blumenfeld , according to David Ebby , Local 19's attorney.
November 6, 2014
NO ONE can call this week's election a mandate for "same old, same old," at least not in Pennsylvania, where Tom Wolf made history by breaking the two-term governor charm that's been in effect for nearly 70 years. The problem, of course, is that he will preside over a Legislature that doesn't exactly embrace the new - one that provided obstacle after obstacle to a governor who shared its majority political party. How it will react to Wolf, who is a Democrat with an ambitious agenda, much of which runs counter to their agenda, is of course the question of the hour.
November 4, 2014 |
A Philadelphia tax preparer pleaded guilty Monday to multiple counts of tax fraud after falsifying hundreds of clients' returns. Edward J. Rorie, 50, doctored 968 returns between 2009 and 2011, seeking inflated refunds totaling $3.85 million, according to the U.S. Attorney's Office. The returns claimed miscellaneous tax credits and fictitious expenses the filers were not entitled to receive, netting more than $100,000 in losses for the IRS. The credits Rorie fraudulently claimed included the First Time Home Buyer Tax Credit, the Hope Tax Credit, the Earned Income Tax Credit, education credits, child care credits, and the Recovery Act's Additional Child Care Credit.
October 30, 2014
TODAY WE examine a basic question in the contest twixt Republican incumbent Gov. Corbett and Democratic newcomer Tom Wolf. First let's agree that in races for governor, taxes and spending are front and center. Let's agree that Corbett's less-spending, fewer-taxes approach is popular with a fair percentage of the electorate. And let's also agree that Corbett's principle argument against Wolf is that he'll raise taxes but won't share details. "How much Pennsylvanians will pay out of their pocketbooks [if Wolf wins]