Moving Pennsylvania Forward

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Get serious on pension reform

Read more at The Citizens’ Voice

As many local school district and hundreds more statewide prepare to raise taxes this year, state Treasurer Joe Torsella has revealed appalling incompetence at the state level that contributes mightily to that local burden.

PA doubled down on pension investment that wasted $5.5 billion in fees

Read more at City & State PA

The years-in-the-making saga of Pennsylvania’s pension crisis hit a new low as state Treasurer Joe Torsella revealed that a staggering $5.5 billion has been “wasted” on costly pension fund management fees. A Financial Times article last week detailed how the money was spent by the state on high-priced Wall Street advisors over the past decade, to little effect.

Pew researcher: Wolf’s $22M deposit to rainy day fund is a ‘big moment’ for Pa.

Read more at the Philadelphia Business Journal

Ever since the Great Recession. Pennsylvania’s rainy day funds have essentially been nonexistent with a recent Pew Charitable Trust report indicating the state’s meager reserve wouldn’t even last three hours. Now for the first time in nearly 10 years, Pennsylvania is depositing money into the budget stabilization fund – a step both the state leader and outside experts are calling significant.

Every dollar in the Treasury comes from the hard work of Pennsylvania taxpayers. Pennsylvanians need to trust that their money will be managed with fairness and integrity, uncompromised by conflicts of interest, political affiliation, favoritism, or other unfair considerations. Under my administration, the days of needing to know someone to do business with Treasury will be over.

We can and should do much better.

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“I’ll be the kind of commonsense problem solver Pennsylvania needs.”

– Joe Torsella

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Our democracy is worth protecting. Russia does not wish us well. Putin is not our friend. And a Commander in Chief who can't agree with those statements isn't putting America first, they're putting America at risk.

About 5 days ago from Joe Torsella's Twitter via Twitter Web Client