Wednesday, February 20, 2013
"Angel" investors—those who finance new businesses—play a crucial role in the economy, State Sen. Wayne Fontana says.
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Wednesday, February 20
Pennsylvania is the nineteenth largest economy in the world, making our state a very attractive place for entrepreneurs to launch a business. However, newer businesses often need capital in order to build a company and banks often shy away from providing this necessary funding during the first few, high risk, years. Last week, the Senate Finance Committee approved legislation I authored that would give certain start-up businesses the tools they need to establish and grow in our state. Senate Bill 141 (SB 141) would use excess Keystone State Innovation Zone dollars to provide a 25 percent tax credit for so-called “angel” investors who provide early stage financing for businesses that are less than five years old. An angel investor is an …
Wednesday, February 13, 2013
State Sen. Wayne Fontana discusses the highlights—and low-lights—of Gov. Corbett's 2013-14 budget proposal.
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Wednesday, February 13
Last Tuesday, Governor Corbett announced his 2013-14 budget proposal. Since 2011, the Governor has made drastic and deep cuts to many essential state programs and services, which has contributed to Pennsylvania’s recent trend of growing unemployment and slow crawl out of an economic recession. Although Governor Corbett’s most recent state plan contains the restoration of some reductions from previous years, the majority of the Governor’s proposal is based on unsure funding sources and the uncertain passage of privatizing state programs. Overall, Governor Corbett has announced a plan that calls for a $28.4 billion budget, which represents an increase of $400 million, or 1 percent, from the budget in place when he took office in 2011. Here …
Wednesday, February 6, 2013
Privatization could result in job loss and reduce revenue from profits and taxation, Fontana says.
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Wednesday, February 6
The current state store system that Pennsylvania has in place began in 1933 after the ending of Prohibition. Many attempts to privatize our system have occurred over the years with the earliest effort taking place during the Thornburgh Administration in 1983. Governor Ridge continued with the privatizing endeavor throughout the 1990s and Governor Corbett has been the most recent advocate. Up until this point, all attempts by these administrations have failed. Last week, Governor Corbett announced a proposal to privatize the state’s liquor system. Under the Governor’s plan, the more than 600 state-owned liquor stores would be opened up to the free market with the Commonwealth auctioning off up to 1,200 wine and liquor licenses to a variety …
Wednesday, January 30, 2013
Officials with WPAHS and Highmark have reached an agreement on a debt reduction deal with bondholders, and now it's important for the insurance department to act, State Sen. Fontana says.
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Wednesday, January 30
Last November, I expressed my concerns with the news that Highmark and West Penn Allegheny Health System (WPAHS) had ended negotiations to finalize their affiliation agreement. The two entities appeared in Allegheny County Common Pleas Court in October after WPAHS claimed Highmark breached their affiliation agreement by insisting WPAHS file for bankruptcy prior to executing the agreement. As a result, WPAHS began searching for other suitors in place of Highmark, which prompted Highmark to ask the Court to block WPAHS from talking to other potential partners. A Common Pleas judge ruled on the matter and blocked WPAHS from talking to other potential affiliation partners. Recently, we have come to learn that after re-starting the negotiations…
Wednesday, January 23, 2013
State Sen. Wayne Fontana, with PHEAA, will host a Financial Aid Education Day this Saturday, Jan. 26.
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Wednesday, January 23
As Vice-Chair of the Pennsylvania Higher Education Assistance Agency (PHEAA) Board of Directors, I am pleased to be hosting, in conjunction with PHEAA, a PHEAA Financial Aid Education Day. This free seminar will be held this Saturday, Jan. 26, and run from 10 a.m. until noon at the Community College of Allegheny County (CCAC)—Allegheny Campus, in the Auditorium, Room S-260, in the Student Service Center Building. Representatives from PHEAA will explain to students and their families what financial aid opportunities are available and which resources can assist in obtaining them. Attendees can enter the building from the entrance on Ridge Avenue and parking is available in the Mon Hill parking lot and Student Lot #2. PHEAA is a national …
Wednesday, January 16, 2013
The Administration has less than a week to execute an agreement that will turn the management of the Pennsylvania Lottery over to a private British company, Fontana says.
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Wednesday, January 16
Last Friday, the Corbett Administration issued a “notice of award” of a 20-year management contract for the Pennsylvania Lottery's $3.5-billion operation to the British-based firm Camelot Global Services, PA, LLC. The notice of award is not yet a binding contract commitment, but a first step in the privatizing process. The Administration now has less than a week to execute an agreement that will turn the management of the Pennsylvania Lottery over to the private company. The Administration is currently under a lot of scrutiny by many members of the General Assembly, as well as the labor union representing lottery workers. Prior to a Senate Finance Committee hearing yesterday, there were lots of questions that remained unanswered including …
Wednesday, January 9, 2013
This week's column from State Sen. Wayne Fontana.
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Wednesday, January 9
During the 2011-12 legislative session, the General Assembly passed legislation, Act 2 of 2012, which increased prize limits for small games of chance for the first time in 23 years. Under this legislation, prize limits for daily games increase from $500 to $1,000, weekly games from $5,000 to $25,000, and monthly raffles from $5,000 to $10,000. These changes to the Local Option Small Games of Chance Act will help many of our non-profit organizations raise additional and much-needed revenue. Whether it be veterans’ or fraternal organizations, religious groups, or civic or service associations, the increased prize limits will help keep them afloat as most of the money will be returned to the community which in turn will benefit us all. In …
Wednesday, January 2, 2013
Helping abused children and underprivileged families, protecting homeowners, jobs and revitalization are on Fontana's priority list in 2013.
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Wednesday, January 2
According to the state constitution, the new Pennsylvania General Assembly meets on a biennial basis on the first Tuesday in January to swear in the members for the upcoming legislative session. This year, the occasion falls on New Year’s Day. This timing provides me with a great opportunity to express my priorities on what issues myself and the Pennsylvania General Assembly will hopefully address during the 2013-14 session. Since 2005, I have worked hard to craft legislation aimed at helping abused and underprivileged children and families. Last year Governor Corbett signed into law a bill I wrote that creates a homeless children task force that studies the educational needs of children facing homelessness throughout Pennsylvania. …
Monday, December 31, 2012
State Sen. Wayne Fontana discusses the Growth, Progress and Sustainability (GPS) plan for the future of our local communities.
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Monday, December 31, 2012
Local municipalities across the state are facing a broad spectrum of challenges including economic development, taxation, crime, education, and the rising costs for personnel and the delivery of social services. In an attempt to alleviate these communities of some the impact of aging and distressed communities so often face, the Pennsylvania Senate Democrats recently announced our Growth, Progress, and Sustainability (GPS) plan to help transform our neighborhoods and achieve sustainability for the future. Since 1987, 27 municipalities, including Pittsburgh, have been declared “financially distressed” under Pennsylvania’s Act 47. Under this designation, the state provides loan and grant funds to these financially distressed local …
Wednesday, December 19, 2012
State Sen. Wayne Fontana discusses Pennsylvania Gov. Tom Corbett's decision to allow the federal government to run the state's health insurance exchange.
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Wednesday, December 19, 2012
To my great disappointment, Governor Tom Corbett has decided to allow the federal government to run Pennsylvania’s health insurance exchange that will serve an estimated one million Pennsylvanians. Our state now joins 19 other states that have also made the decision to give up states’ rights to decide what’s best for its citizens, with the majority of these states being led by Republican governors. Ironically, these states are going against a fundamental conservative belief that states should make their own decisions rather than to give control to the federal government. The Affordable Care Act was created so that it gives states flexibility in developing a state-based plan. However, Governor Corbett has used this elasticity as something …
MSgt. John DeLallo
10:28 am on Wednesday, February 13, 2013
Senator Fontana would have us return to the days of Fast Eddy Spendell. I wonder if Fontana has considered that 40% of Pennsylvania's budget goes to social welfare programs, but he (Fontana) wants to increase those programs? Reliance on the largesse of Big Government has brought us to where we are. I admire Corbett for making efforts to spend only that which we have. Contrary to the Senator's … more ›