Tag Archives: bailout

City Plans School Building Spending Spree With State Property Tax Relief Payment

City Plans School Building Spending Spree With State Property Tax Relief Payment

To be fair, the Minot School Board is considering more than one option when it comes addressing school growth in the city, and the impact they calculate for property taxes doesn’t take into account the city’s growing property tax base, but even so this illustrates perfectly the problem with trying to solve the property tax

North Dakota Senate Kills $352 Million Income Tax Package

Yesterday I wrote of the food fight going on between the North Dakota House and the Senate over HB1250, a package of income tax cuts. Well, yesterday evening the House (after much contentions debate) passed a $352 million package ($251 million in cuts for personal incomes, $101 million for corporate) with a strong, bi-partisan 76-vote

Shocker: Department Of Labor Gives Twinkie-Killing Union Workers A Bailout

When the ponderously-named Bakery, Confectionery, Tobacco Workers and Grain Millers International Union went on strike they made national headlines for potentially killing off Twinkies. Of course, the unions hotly denied that it was their unreasonable demands and strike when those demands weren’t met that killed Twinkies. Now, by way of granting the union workers a

Bankrupt Nation Full Of Fatties Considering Bailout For Big Sugar

Sure. Why not. The U.S. Department of Agriculture is considering buying 400,000 tons of sugar—enough for 142 billion Hershey’s HSY +0.08% Kisses—to stave off a wave of defaults by sugar processors that borrowed $862 million under a government price-support program. The action aims to prop up tumbling U.S. sugar prices, which have fallen 18% since

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With Pension Fund Only 49% Funded, City Of Minot Considering Defined Contribution Plans

All over the country, defined benefits pension plans are crumbling. Public sector plans for state and municipal workers are under water. Federal pension plans are under water. Even Social Security, which is little more than a sort of universal, defined-benefits pension plan is under water. And the fundamental problem with each of those plans is

North Dakota House Votes To Give Public Workers Defined Contribution Pension Option

Under HB1452, introduced by Rep. Jim Kasper, would give new state hires the option of choosing a defined contribution pension plan instead of the existing (and fiscally in jeopardy) defined benefits pension. SAB readers will remember that earlier this week there was a lengthy debate on the floor of the state Senate, in advance of

ND Senate Bails Out Public Worker Pensions, But Authorizes Study For Move To Defined Contribution Plans

In his speech carrying SB2059 to the floor, Senator Dick Dever noted an alarming fact that I’ve written about before here on SAB: North Dakota’s public employee pension system, PERS, has fallen to being only 67.4% funded. In 2011 the fund was 70.5% funded, and not so many years ago the fund was 104% funded.

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