Posted by Edward Ring at 6:25 pm on Aug 20, 2013 Comments Off on Governor Brown Fighting Obama Administration to Defend Pension Reform
Remember AB 340, the pension reform successfully pushed by
Democratic Governor Brown, that even Governor Brown acknowledges is
only a first step towards making public employee pensions
financially sustainable?
Well even AB 340 goes too far according to Obama’s new Secretary
of Labor, Thomas Perez. As Dan Borenstein of theContra
Costa Times reports on August 16th,“unless California
lawmakers exempt transit workers from the pension changes, the feds
could cut off up to $4.3 billion of transportation funding,
according to an estimate by the California Transit
Association.That includes $174 million for BART, $225 million
for Santa Clara Valley Transportation Authority and $12 million for
AC Transit.”
The immediate negative economic impact of this is huge: Bill
McMorris,reporting
for the Washington Free Beacon on August 16th,
writes“The federal government has withheld more than $500
million in funding to local… Read More