Lisa's Feed
May 15, 2012

Analysis: State income up in April, but may not be enough

By Lisa Lambert and Karen Pierog

(Reuters) – Personal income tax collections in states in April might have grown an average of more than 7 percent, but for some the increase may not be enough to ease budget crises.

Reuters found that the average increase of personal income tax collections in April 2012 from April 2011 for the 20 states for which data is available was 7.3 percent.

May 8, 2012

Analysis: Public pension fixes face stout legal challenges

SAN FRANCISCO/WASHINGTON (Reuters) – Public employees in San Jose, California’s third-largest city, are gearing up for a marathon court battle if local voters approve a measure in June to overhaul the city’s pension system.

“It’s just a straight-up war with us,” said Jim Unland, board president of the San Jose Police Officers’ Association, the union representing the city’s police force. ” Once the thing passes, we’ll be in court for years.”

May 8, 2012

US public pension fixes face stout legal challenges

SAN FRANCISCO/WASHINGTON, May 8 (Reuters) – Public employees
in San Jose, California’s third-largest city, are gearing up for
a marathon court battle if local voters approve a measure in
June to overhaul the city’s pension system.

“It’s just a straight-up war with us,” said Jim Unland,
board president of the San Jose Police Officers’ Association,
the union representing the city’s police force. ” Once the thing
passes, we’ll be in court for years.”

May 3, 2012

Revenue boost from Amazon tax ‘limited’- Fitch

May 3 (Reuters) – From the hearing rooms of the U.S.
Congress to the halls of state legislatures across the country,
a cry is rising for more states to be able to tax transactions
over the Internet as a fix for their budget problems.

On Thursday, the credit rating agency Fitch Ratings put a
damper on the promises of the “Amazon Tax,” saying that
additional revenues “would be of limited scope and are unlikely
to affect a state or local government’s overall budget picture.”

Apr 13, 2012

State revenues hobble toward pre recession peaks

By Lisa Lambert

(Reuters) – U.S. states’ tax revenues have improved greatly, but they remain below the peaks reached before the recession, a report showed on Friday.

The U.S. Census said on Thursday that tax collections rose in all 50 states in fiscal 2011, which for most ended on June 30, 2011. That was a strong reversal from previous years, when the financial crisis, housing downturn and recession combined to cause a revenue collapse in virtually every state.

Apr 8, 2012

Despite recovery, U.S. public employees face more layoffs

By Lisa Lambert

(Reuters) – Since 2009, the city of Chesapeake, tucked up against the Great Dismal Swamp in southern Virginia, has cut its workforce twice. This summer, nearly three years after the recession ended, the city of 222,209 has plans for a third round of layoffs.

“We’re not seeing the recovery we want to see,” said Budget Director Steven Jenkins, who is hoping many of the 20 people will move into other jobs.

Apr 8, 2012

FEATURE: Despite recovery, US public employees face more layoffs

April 8 (Reuters) – Since 2009, the city of Chesapeake,
tucked up against the Great Dismal Swamp in southern Virginia,
has cut its workforce twice. This summer, nearly three years
after the recession ended, the city of 222,209 has plans for a
third round of layoffs.

“We’re not seeing the recovery we want to see,” said Budget
Director Steven Jenkins, who is hoping many of the 20 people
will move into other jobs.

Mar 30, 2012

February jobless rates drop in U.S. states, swing states perk up

By Lisa Lambert

(Reuters) – Unemployment rates dropped in almost all U.S. states in February, with many of those considered up for grabs in the 2012 presidential election registering the biggest improvement, data released on Friday showed.

The Labor Department said that in 29 states the rates dropped from the month before and in 13 states there was no movement.

Mar 30, 2012

Feb. jobless rates drop in US states, swing states perk up

March 30 (Reuters) – Unemployment rates dropped in almost
all U.S. states in February, with many of those considered up
for grabs in the 2012 presidential election registering the
biggest improvement, data released on Friday showed.

The Labor Department said that in 29 states the rates
dropped from the month before and in 13 states there was no
movement.

Mar 29, 2012

Public pension finances rebound slightly: Census

WASHINGTON (Reuters) – The finances of public pensions rebounded in the final quarter of 2011 from the quarter before, but the cash and security holdings were still below end-of-2010 levels, according to U.S. Census data released on Thursday.

Gains in stocks and international securities lifted holdings 3.2 percent from the third quarter to $2.61 trillion, slightly less than the $2.64 trillion in the fourth quarter of 2010.