Day: February 12, 2013

State treasurer says Md. bonds face possible Moody’s downgrade

As fiscal brinkmanship continues in Congress, state treasurer Nancy Kopp warned a Maryland Senate committee that a federal sequester and the resulting cuts to the state budget could result in a downgrade of Maryland’s triple-A credit rating from Moody’s Analytics, one of America’s three major credit rating agencies.

Bills would phase out reduced funding for pensions

For most of the last decade, Maryland has been putting less money into the pension system for state employees and public school teachers than actuaries said it should, as much as $2.4 billion less.

For years, the trustees of the pension system have been urging the legislature to phase out the “corridor” method of funding. This year the General Assembly’s Joint Pension Committee has agreed to go along, and approved a plan to phase it out over the next 10 years.

Bills seek to slow the revolving door of public officials into lobbying

In hopes of slowing the political revolving door out of government to influence government as a lobbyist, House Minority Leader O’Donnell testified Tuesday for a package of four ethics measures he’s introduced.

The package seeks to renew and in some cases tighten up the ethics code, particularly as it relates to former government officials becoming lobbyists to advocate for issues they worked on and where their influence remains.

State Roundup, February 12, 2013

Bill to allow surcharge for gas pipeline improvements could pass this week; Sen. Pipkin seeks changes to accommodate mega-hearings such as last week’s on gun control; Attorney General Gansler sets May 11 for gun turn-in day; Shore delegation concerned that state regulations are impeding farm businesses; Baltimore City mayor offers “bold reforms” to regain sure financial footing; and Dan Bongino won’t seek Arundel county exec seat, MDGOP chairmanship.

Analysis: Tax-weary Assembly leery of gas tax hike

A tax-weary legislature has no stomach to raise needed transportation revenues. Everybody agrees that a good transportation network of roads, highways, bridges and mass transit are an essential underpinning of the Maryland economy. But there’s no agreement on how to pay for this transportation system in the 21st century.

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