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Edward Ring

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 localRead More