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Pennsylvania budget has no CU provisions
HARRISBURG, Pa. (2/9/09)--Pennsylvania Gov. Ed Rendell outlined a $29 billion budget Wednesday for 2009-2010 that--at this time--doesn’t appear to contain any proposals that would be detrimental to credit unions, the Pennsylvania Credit Union Association (PCUA) said. However, PCUA staff said they will continue to monitor budget negotiations (Life is a Highway Feb. 5). PCUA was part of a coalition of business associations that outlined a plan for the budget. Joining the coalition is just another way PCUA is protecting credit unions’ tax-exempt status, PCUA said (Life is a Highway Jan. 29). In his opening comments, Rendell noted that the budget “presents challenges the likes of which Pennsylvania and the nation have not seen since the Great Depression. “The worst economic crisis of our lifetime has dramatically reordered priorities in Washington, in Harrisburg, and most importantly, around the kitchen tables in homes all across our [state], where families are asking themselves questions that were unthinkable just six months ago: What happens next? Will I keep my job? What happens if I get sick? How will we survive?” he continued. The budget is a 2.5% increase over the 2008-09 budget. It calls for an increase in some taxes and cuts other programs, and reduces the number of state jobs by about 2,600. The budget also would withdraw hundreds of millions of dollars from the state’s “rainy day” contingency fund without draining it completely. It does not call for increasing any broad-based tax, PCUA said.


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