Finance - December 1, 2017

CHIP funding on hold

Congress has yet to approve vital funding for the Children’s Health Insurance Program. Without the federal funding Pennsylvania could be out of money for the program by February. Roughly 176,000 children in Pennsylvania are covered by CHIP and over 8 million nationwide. The program expired on September 30 as Congress failed to reauthorize it.  Congress seems to have put the issue on the back burner while attempting to tackle health care and tax reform. Without additional federal funding the program could run out of money in February 2018.

The state program turns 25 years old this weekend. Its inception came five years before the federal government program. The state program become, in part, a model for the federal program and has been very successful.

Earthquake shakes Delaware-Philly region

A 4.1 magnitude earthquake struck the Delaware and Greater Philadelphia area yesterday afternoon. The earthquake was centered in the Bombay Hook National Wildlife Refuge, about 6 miles from Dover. The quake was recorded at a depth of 5 miles and the impact was felt as far as Washington, DC and New York City. While east coast quakes are rare, Delaware is considered a “medium risk” state by the U.S. Geological Survey and the Federal Emergency Management Agency. There were no reported damage or injuries.