Pennsylvania is currently facing a pension crisis that “threatens to bankrupt the state as well as just about every school district in the Commonwealth.” (Editorial, “Corbett’s Conviction,” Bucks County Courier Times, 7/2/2014)
Tom Wolf doesn’t believe we have a pension crisis. (Pennsylvania Legislative Correspondents’ Association (PLCA) and the Widener University School of Law, Law and Government Institute Debate in Harrisburg, 4/9/2014)
- Tom Wolf said “we don’t have a crisis” during a debate in Harrisburg. (Pennsylvania Legislative Correspondents’ Association (PLCA) and the Widener University School of Law, Law and Government Institute Debate in Harrisburg, 4/9/2014)
- Tom Wolf said “it’s not a crisis” during a debate in Philadelphia. (Gubernatorial Forum On Education in Philadelphia, 4/30/2014)
Failure to act on Pennsylvania’s pension crisis will “crippl[e] local school budgets,” and lead to higher property taxes. (Evan Brandt, “Pa. Pension Time Bomb Part 5: Crisis cripples local school budgets,” Pottstown Mercury, 6/8/2014)
- At least 163 Pennsylvania school districts applied to increase their taxes above the rate of inflation due to rising pension obligations. (Maura Pennington, “Loophole allows schools districts to raise property taxes in Pennsylvania,” Watchdog.org, 6/11/2014)
- Examples of projected annual property tax increases due to rising pension costs:
- Allentown School District: $511 (Nathan Benefield, “Reform State Pension Plans Now or Pay More Taxes Later,” Commonwealth Foundation, 11/4/2013)
- Easton Area School District: $352 (Nathan Benefield, “Reform State Pension Plans Now or Pay More Taxes Later,” Commonwealth Foundation, 11/4/2013)
“Pensions costs consume 60 cents of every new dollar of state revenues.” (Brad Bumsted and Melissa Daniels, “Pa. Legislature approves $29.1B budget; Corbett withholds signature,” Pittsburgh Tribune-Review, 6/30/2014)
Taxpayer contributions to state pension plans are projected to nearly TRIPLE in just four years! (“Pension Reform Fact Sheet,” Office of the Budget, Accessed 7/7/2014)
From $1.5 billion in fiscal year 2013-2014, to $4.3 billion in fiscal year 2017-2018. (“Pension Reform Fact Sheet,” Office of the Budget, Accessed 7/7/2014)
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