Highlights of Gov. Corbett's 2013-14 budget plan - 21 News Now, More Local News for Youngstown, Ohio -

Highlights of Gov. Corbett's 2013-14 budget plan

Updated:
  • More NewsMore>>

  • Remembering Idora Park over the years

    Remembering Idora Park over the years

    Wednesday, April 23 2014 11:44 PM EDT2014-04-24 03:44:21 GMT
    This Saturday will mark the 30th anniversary of the devastating fire that led to the closing of the Idora Amusement Park. Glenn Stevens took a look back at Idora Park's history and the memories it made for generations. More >>
    This Saturday will mark the 30th anniversary of the devastating fire that led to the closing of the Idora Amusement Park. Glenn Stevens took a look back at Idora Park's history and the memories it made for generations. More >>
  • Trumbull County Sheriff Tom Altiere talks about hostage situation

    Trumbull County Sheriff Tom Altiere talks about hostage situation

    Wednesday, April 23 2014 11:29 PM EDT2014-04-24 03:29:48 GMT
    Following the five hour hostage situation at the Trumbull County jail that ended with the safe release of a corrections guard taken hostage by 3 inmates, Trumbull County Sheriff Tom Altiere spoke to 21 News.More >>
    Following the five hour hostage situation at the Trumbull County jail that ended with the safe release of a corrections guard taken hostage by 3 inmates, Trumbull County Sheriff Tom Altiere spoke to 21 News.More >>
  • GM ships kits to repair ignition in recalled cars

    GM ships kits to repair ignition in recalled cars

    Wednesday, April 23 2014 11:27 PM EDT2014-04-24 03:27:38 GMT
    General Motors says it has shipped thousands of kits consisting of ignition switches, ignition cylinders and key sets for older model small cars subject to a safety recall.According to a notice posted Wednesday on the General Motors corporate website, letters were mailed last week to about 1.4 million owners of 2003-2007 models telling them to contact a GM dealer to make an appointment for repairs, which GM says should take about 90 minutes. Wait times may be longer depending on the busyness ...More >>
    General Motors says it has shipped thousands of kits consisting of ignition switches, ignition cylinders and key sets for older model small cars subject to a safety recall.According to a notice posted Wednesday on the General Motors corporate website, letters were mailed last week to about 1.4 million owners of 2003-2007 models telling them to contact a GM dealer to make an appointment for repairs, which GM says should take about 90 minutes. Wait times may be longer depending on the busyness ...More >>

Highlights of Gov. Tom Corbett's 2013-14 spending plan for the year that starts July 1:

THE BIG PICTURE:

Increases overall state spending by nearly 3% to $28.4 billion.

Raises $28.4 billion through taxes, fees and other revenue sources.

Does not increase the sales tax or personal income tax.

TAXES

Phases in an increase on the wholesale tax that gas stations pay on gasoline, the Oil Company Franchise Tax, over five years by uncapping the average price used to calculate the tax. The increase would help finance a 5-year, $5.4 billion transportation initiative for roads, bridges and mass transit and would be partially offset by a phased-in reduction in the liquid fuels tax from 12 cents per gallon to 10 cents per gallon over two years.

Phases in, beginning in 2015, a reduction in the corporate net income tax rate from the current 9.99% to 6.99% by 2025. Also increases the maximum net operating loss deduction from $3 million to $4 million in 2014 and to $5 million in 2015.

Continues the phase-out of the Capital Stock and Franchise Tax by reducing the rate from 1.89 mills to 0.89 mills this year and eliminating the tax altogether in 2014. The tax is levied on the supplies and goods job-creators need to make their products.

PENSIONS

Reduces future benefits for current state workers and school employees by reducing the "multiplier" used to calculate benefits, reducing annuity payments to employees who withdraw their contributions and capping pensions at the Social Security wage base. Employees willing to pay higher contributions could retain the current multiplier.

Requires that new hires be automatically enrolled in a proposed 401(a) defined-contribution retirement savings plan. They would be required to contribute at least 6.25% of their salary and the employer would make a 4% contribution.

The increase in the employers' (taxpayers') share of funding the state's two major pension funds would be limited to 2.25%, instead of 4.5%, yielding savings that the administration has already subtracted from agencies' 2013-14 budgets. The annual increase would be allowed to rise by no more than 0.5% until it reaches 4.5% or the annual required contribution rate.

Maintains current benefits for retirees.

EDUCATION

Increases funding for public school instruction and operations by $90 million to nearly $5.5 billion.

Maintains spending for higher education at this year's $1.2 billion level.

Finances a proposed Passport for Learning block grant program for public schools with $1 billion over four years from the sale of licenses under Corbett's sweeping liquor-privatization initiative. Grant money could be used for kindergarten programs; customized learning plans; science and math programs and equipment in grades six through 12; or school safety.

JOBS

Consolidates eight existing revolving-loan programs under the Pennsylvania Business Development Authority into a single pool totaling $1.1 billion to streamline the process for businesses seeking capital.

Increases funding by $10 million for the PA First program, which helps businesses that plan to create jobs in Pennsylvania.

MISCELLANEOUS

Includes nearly $15 million for three new state police cadet classes that are expected to train 290 troopers, plus $6 million for 90 new civilian police dispatchers.

Provides nearly $40 million to expand home- and community-based services for people with intellectual and physical disabilities.

Changes certain motor-vehicle rules, including the authorization of a fee option in lieu of license suspension for driving without insurance. Moves vehicle registration renewals to a biennial cycle, instead of once a year, and moves driver license renewals to a 6-year cycle instead of the current 4-year cycle.

Outlines the administration's pending contract with the British national lottery operator to take over management of the Pennsylvania Lottery. The company pledges $34 billion in profits to the state over the next 20 years.

Summarizes the far-reaching, but purportedly budget-neutral, plan to replace the more than 600 state liquor stores with twice as many privately run liquor and wine stores. It also would allow beer and wine sales by retailers that include big-box stores, grocery stores, pharmacies and convenience stores.

Sources: State budget documents, Corbett administration.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • SpotlightSpotlightMore>>

  • Updated

    The Scrappers host “POPS at the Ballpark” featuring the Youngstown Symphony Orchestra

    The Scrappers host “POPS at the Ballpark” featuring the Youngstown Symphony Orchestra

    Tuesday, April 15 2014 2:04 PM EDT2014-04-15 18:04:57 GMT
    NILES, Ohio – The Mahoning Valley Scrappers and the Youngstown Symphony Orchestra are excited to host one of the Valley's premiere summer events, POPS at the Ballpark,More >>
    NILES, Ohio – The Mahoning Valley Scrappers and the Youngstown Symphony Orchestra are excited to host one of the Valley's premiere summer events, POPS at the Ballpark, presented by Stanley E. Shearer with Northwestern Mutual and 21 WFMJ on Saturday, August 23, 2014 at Eastwood Field.More >>
  • More From wfmj.comMore>>

  • Restaurant plans new statue of Joe Paterno

    Restaurant plans new statue of Joe Paterno

    Wednesday, April 23 2014 12:57 PM EDT2014-04-23 16:57:56 GMT
     (AP) - Fans of the late Penn State University football coach Joe Paterno are planning to commission a new bronze statue of him, and place it across from the school. Organizers say the statue will feature Paterno sitting on a bench reading. It's expected to cost about $300,000 and would hopefully be done in 2015 by Philadelphia sculptor Zenos Frudakis. Penn State spokeswoman Lisa Powers says the school isn't involved in the plan. But a restaurant owner in downtown State Col...More >>
     (AP) - Fans of the late Penn State University football coach Joe Paterno are planning to commission a new bronze statue of him, and place it across from the school. Organizers say the statue will feature Paterno sitting on a bench reading. It's expected to cost about $300,000 and would hopefully be done in 2015 by Philadelphia sculptor Zenos Frudakis. Penn State spokeswoman Lisa Powers says the school isn't involved in the plan. But a restaurant owner in downtown State Col...More >>
  • Woman allegedly sold heroin from hospital bed

    Woman allegedly sold heroin from hospital bed

    Wednesday, April 23 2014 11:01 AM EDT2014-04-23 15:01:45 GMT
    A woman in western Pennsylvania is accused of selling heroin from a hospital intensive care unit and a hospital room.More >>
    A woman in western Pennsylvania is accused of selling heroin from a hospital intensive care unit and a hospital room.More >>
  • Jet stowaway undetected for hours before departure

    Jet stowaway undetected for hours before departure

    Tuesday, April 22 2014 11:44 PM EDT2014-04-23 03:44:25 GMT
    Surveillance cameras at San Jose International Airport successfully captured the teenager on the tarmac, climbing up the landing gear of a jet. But in the end, the cameras failed because no one noticed the security...More >>
    A 15-year-old stowaway who survived a flight over the Pacific in a jet's wheel well spent seven hours undetected in what is supposed to be a highly secure area of San Jose International Airport before the flight...More >>
  • Hot ClicksHot ClicksMore>>

  • Can an app save the planet?

    Can an app save the planet?

    This startup's Earth Day launch has a massive goal: Cut carbon emissions globally. It has its work cut out for it.
    More >>
    This startup's Earth Day launch has a massive goal: Cut carbon emissions globally. It has its work cut out for it.
    More >>
  • 'Captain America' holds onto top box office spot

    'Captain America' holds onto top box office spot

    Monday, April 21 2014 10:47 PM EDT2014-04-22 02:47:39 GMT
    LOS ANGELES (AP) - Captain America really is unbeatable - at least at the box office"Captain America: The Winter Soldier" has been the top draw at theaters for three consecutive weeks, vanquishing would-be foes including the new thriller starring Johnny Depp.According to Monday's final box office figures, the Marvel sequel added $25.6 million in ticket sales over the weekend. "The Winter Soldier" has made more than $200 million domestically since logging the best April opening in history."Hea...More >>
    LOS ANGELES (AP) - Captain America really is unbeatable - at least at the box office"Captain America: The Winter Soldier" has been the top draw at theaters for three consecutive weeks, vanquishing would-be foes including the new thriller starring Johnny Depp.According to Monday's final box office figures, the Marvel sequel added $25.6 million in ticket sales over the weekend. "The Winter Soldier" has made more than $200 million domestically since logging the best April opening in history."Hea...More >>
  • Netflix poised to raise prices after strong 1Q

    Netflix poised to raise prices after strong 1Q

    Monday, April 21 2014 10:37 PM EDT2014-04-22 02:37:26 GMT
    SAN FRANCISCO (AP) - Netflix is preparing a sequel unlikely to be a hit with its subscribers. The Internet video service is about to raise its prices for the first time in three years to help pay for more Internet video programming such as its popular political drama "House of Cards."The increase, to take place sometime before July, will hike prices by $1 or $2 per month for new customers. The company's nearly 36 million current subscribers will continue to pay $8 per month for at least the n...More >>
    SAN FRANCISCO (AP) - Netflix is preparing a sequel unlikely to be a hit with its subscribers. The Internet video service is about to raise its prices for the first time in three years to help pay for more Internet video programming such as its popular political drama "House of Cards."The increase, to take place sometime before July, will hike prices by $1 or $2 per month for new customers. The company's nearly 36 million current subscribers will continue to pay $8 per month for at least the n...More >>
Powered by WorldNow
All content © Copyright 2000 - 2014 Worldnow and WFMJ. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms