Finance - September 3, 2010

Obama To Campaign For Sestak

President Obama is scheduled to visit Philadelphia on September 20 to attend a fundraiser for Democrat Congressional Candidate Joe Sestak.

“We’re honored that the President would do an event with Joe during his trip to Pennsylvania,” said spokesman Jonathon Dworkin in a statement. “He and Joe may have had their differences, but they can agree that it is critical to elect a Senator who will put Pennsylvania’s working families first.”

This is the first time Obama will attend a Sestak event after Sestak beat Specter, who Obama supported, in the primary.

Tax Revenue Up; Layoffs Not Averted

For Pennsylvania, tax revenues for this fiscal year are at $3.5 billion which is $6 million above the estimate. The Department of Revenue said that August tax collections total $1.8 billion. The sales tax revenue was above expected gross which compensated for the lower personal income and corporate tax revenue.

According to a report in the Patriot News, Governor Rendell said that even though it is good for the commonwealth that the tax revenue is above the expected amount, state worker layoffs have not been averted. The Governor indicated that layoffs will be announced after Labor Day.

Have a safe and happy Labor Day weekend!

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