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APRIL 2014

April 2014

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  • ALASKA

    Senate passes new approach to pension obligationl

    The Anchorage Daily News | by Becky Bohrer | April 21, 2014

    The Alaska Senate unanimously passed legislation setting out a new approach for addressing the state's pension obligation Saturday, less than three hours after the plan emerged from the Senate Finance Committee.

  • HEADLINES : ALASKA

    House Approves $3 Billion Transfer To Pension System

    Alaska Public Radio | by Alexandra Gutierrez | April 18, 2014

    The bill uses $3 billion from the state's reserve funds to help pay off the $12 billion unfunded liability. It also directs the Legislature to put $500 million into the retirement system every year, until the obligation is paid off.

  • HEADLINES : MISSOURI

    Missouri income tax cut goes to Nixon, with veto likely

    StLToday.com | by Virginia Young | April 18, 2014

    The Republican-led Missouri House set up a showdown with Gov. Jay Nixon over tax policy, sending him a bill cutting income taxes by $620 million and predicting a quick override if he vetoes it.

  • HEADLINES : CONNECTICUT

    GOP: Cut state budget by $55M, stop 'gimmicks'

    CTPost.com | by Ken Dixon | April 18, 2014

    Republicans unveiled their alternative budget Thursday, offering to cut $55 million from the bottom line of majority Democrats while increasing municipal aid, reducing taxes on pensions and eliminating the state's Earned Income Tax Credit program.

  • HEADLINES : MICHIGAN

    House appropriations committee signs off on $36 billion state budget

    The Detroit Free Press | by Kathleen Gray | April 18, 2014

    The first action taken by the House Appropriations committee as it considered the state's $36.3 billion budget for the 2014-15 fiscal year, was to add $110 million to the Department of Community Health budget to fix a shortfall in Health Insurance Claims Assessment Medicaid reimbursement payments.

  • HEADLINES : NORTH CAROLINA

    Nation's Seventh Largest State Pension Can't Afford Financial Audit

    Forbes | by Edward "Ted" Siedle | April 17, 2014

    It's hard to believe that there are no audited financial statements for the North Carolina state pension, the seventh largest public fund in the nation with $87 billion in assets.

  • HEADLINES : NEW JERSEY

    Christie 'will force' legislators to address state pensions

    BenefitsPro | by Lisa Barron | April 17, 2014

    New Jersey Governor Chris Christie told a town hall meeting that the state's public pension system is unsustainable and that he plans to force legislators to tackle the issue during his last term.

  • HEADLINES : WASHINGTON

    State budget is only balanced on paper

    The News Tribune | by Jordan Schrader | April 17, 2014

    A new budget outlook projects the state to be in the black at that point by a bare $19.5 million, in a projected budget of more than $36 billion.

  • HEADLINES : MAINE

    State budget panel approves $50 million package of jobs, water bonds

    The Bangor Daily News | by Mario Moretto | April 17, 2014

    Maine voters could be asked to approve $50 million worth of bonds at the ballot box this November, if all the proposals by state leaders from both parties survive upcoming votes in the Legislature.

  • HEADLINES

    Rich States, Poor States

    ALEC | by Arthur B. Laffer, Stephen Moore and Jonathan Williams | April 15, 2014

    Using years of economic data and empirical evidence from each state, the authors identify which policies can lead a state to economic prosperity. Rich States, Poor States not only identifies these policies but also makes sound research-based conclusions about which states are poised to achieve greater economic prosperity and those that are stuck on the path to a lackluster economy.

  • HEADLINES : RHODE ISLAND

    Raimondo: Losing pension case would be catastrophe

    Boston.com | April 15, 2014

    General Treasurer Gina Raimondo said Monday that it would be catastrophic for Rhode Island to lose the legal challenge over the state's pension overhaul but that she has a ‘‘high degree of confidence'' that won't happen.

  • HEADLINES

    Pace of pension reform ebbs after 49 states change laws

    Hazel Bradford | by Pensions & Investments | April 15, 2014

    While the sense of urgency has diminished, reform attempts have become a legislative staple, as public retirement systems continue to grapple with unfunded liabilities and political pressure to change.

  • HEADLINES : NEW YORK

    NY gets federal OK to reinvest $8B in Medicaid savings

    The Albany Times Union | by Claire Hughes | April 15, 2014

    The long-awaited waiver is $2 billion short of what the state had asked for in 2012.

  • HEADLINES

    State government dependence on federal funding growing at alarming rate

    The Washington Examiner | by David Freddoso | April 15, 2014

    This trend of increased state dependency on Washington reduces state and local control, while threatening the states' long-run autonomy.

  • HEADLINES : FLORIDA

    House and Senate not in sync on state pension reform

    The Gainesville Sun | by Lloyd Dunkelberger | April 14, 2014

    House Speaker Will Weatherford said the changes, which will not directly impact current public employees, are needed to reduce the state's long-term costs for the retirement system.

  • HEADLINES : ALASKA

    Governor's plan to address pension obligation gets municipal support

    The Anchorage Daily News | by Becky Bohrer | April 14, 2014

    Under the plan, about $1.9 billion would go to the public employees' system and the rest to the teachers' retirement system.

  • HEADLINES : HAWAII

    Lawmakers to sort out state budget this week

    KITV Honolulu | April 14, 2014

    After the state revised its revenue projections, the Senate made cuts to what the governor and House proposed.

  • HEADLINES : LOUISIANA

    Louisiana state budget discussed by public

    The Times Picayune | April 14, 2014

    The Appropriations Committee held public testimony day, letting people talk about what they like or don't like about Gov. Bobby Jindal's budget recommendations for the 2014-15 fiscal year that begins July 1.

  • HEADLINES : ARIZONA

    State budget returns to unsustainable deficits

    The Arizona Republic | by Robert Robb | April 11, 2014

    The spending lobby had the usual complaints about what the recently adopted state budget doesn't fund. The real news, however, is that the spending that was approved probably puts the state back into the position of having an unsustainable structural deficit.

  • HEADLINES : TENNESSEE

    Tennessee House passes budget without state raises

    The Tennessean | by Chas Sisk | April 11, 2014

    The Tennessee House of Representatives approved the state's $32 billion budget Thursday afternoon, without once-promised raises for teachers and other state workers.

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