Act 120 of 2010

HB 2497 165 YEAR 35 NAY 3 LVE

House Vote HB 2497 November 15, 2010

Senate Vote HB 2497 October 14, 2010 41 YEA to 8 NAY This is the infamous kick the tax can down the road Union Pension Bailout Bill. They are not.. This bill defers payment of contributions and adds interest costs. The Fiscal Notes are inaccurate and disingenuous. These are savings only if you consider not paying your bills or not paying your monthly mortgage payments as savings. Disgraceful The Republican controlled General Assembly and Governor, conniving with Union Organizers, have failed, disgracefully, to address this pension issue honestly. Kicking the Pension Can down the road is not a solution to the problem.

Union Pension Bailout & Generational Theft http://www.commonwealthfoundation.org/research/detail/union-pension-bailoutgenerational-theft November 10, 2010 Policy Points Commonwealth Foundation

Senate Fiscal Note scores this as savings postponing required payments is not savings. Pension Reform General Fund $1.499 Billion in savings Other Funds $738.5 Million in savings http://www.legis.state.pa.us/WU01/LI/BI/SFN/2009/0/HB2497P4476.pdf