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The Commonwealth Foundation is Pennsylvania's free-market think tank. The Commonwealth Foundation crafts free-market policies, convinces Pennsylvanians of their benefits, and counters attacks on liberty.
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Today, the U.S. Court of Appeals for the D.C. Circuit ruled the IRS could not provide tax credits or subsidies to individuals with insurance policies purchased on the federal health exchange. The ruling calls into question whether major portions of the Affordable Care Act—the individual and employer mandates—can be implemented in as many as 36 states, including Pennsylvania.
Today, credit rating agency Moody’s downgraded Pennsylvania’s general obligation bond rating from Aa2 to Aa3, citing the state’s use of one-time budgetary stop-gap measures and the continued underfunding of public pensions. This marks the third credit downgrade from ratings agencies in as many years.
Today, the governor identified the special interests that oppose any kind of fiscally responsible pension reform: government union leaders,” commented Nathan Benefield, vice president of policy analysis for the Commonwealth Foundation. “That Gov. Corbett feels a line-item veto is needed to force action on this issue illustrates the immense power these government union executives wield in Harrisburg.
While state lawmakers approved a state budget without enacting pension reform, Detroit’s failure to address the same issue illustrates the painful consequences of inaction—a proposed 4.5 percent cut in benefits for retirees.
July 1, 2014, Harrisburg, Pa—Yesterday, Gov. Corbett withheld his signature from the state budget in a bold attempt to force action on substantive pension reform. Today, despite near-universal acknowledgement of a looming pension crisis, the House pension vehicle was sent back to committee—a move backed by government union leaders.
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You're probably aware that Pennsylvania’s tax burden is among the most oppressive in the country. But the tax code is just the tip of the iceberg when it comes to the state’s stifling regulatory policy. Entrepreneurs and innovators are also weighed down by complex regulations and onerous ...