What's New in the Legislature, Preventing Identity Theft [Pennsylvania Newsmakers]

Just another WordPress site

What's New in the Legislature, Preventing Identity Theft [Pennsylvania Newsmakers]

hi welcome to Pennsylvania newsmakers and as always thanks for watching well are all star panel returns are sitting right here and we’re going to debate of all things the Pennsylvania budget and other matters and then our popular financial literacy update guess what it all starts right now this is Pennsylvania newsmakers a fast paced unrehearsed weekly discussion with and about the leaders who shape your world and now here’s your host Terry Madonna hi welcome back to the program oro start all-star that’s hard to say all star panel is back in these guys have more titles than the King of England they’re the Queen of England but here they are sitting right next to me is Freddie Anton he’s the heads the Pennsylvania Manufacturers Association across from me is jean bar he’s a vp a couple of big titles for him at the pennsylvania chamber of business and industry and jim redmond he has a bunch of titles to at the hospital you guys have too many titles bread what do you think yes absolutely good okay all right we’re going to start quickly I’m going to yes or no on this and then we’re going to details does the Pennsylvania legislature and the governor come to an agreement on the budget by the end of it by the end of june june 30 do they get it done yes on time do they get it definitely do they get it done question we’ll get it all right there there you have it now you i’ll give you their email if we don’t get it straight all right Fred but the question is how far before to internally get it done will it be at the last minute that will be the Aaron long as somebody over there a care if the state employees are laid off like they were with Randall they’ll care a lot oh you mean if they announced the layoff centers all that do you think that’s good that not only get that far they’re going to be at most the third week in june third weekend yeah i agree with gene all right so so Fred’s just raising the possibility i think all right Fred let’s start with you twenty seven point three billion the Republicans in the Senate say oh we’re going to hike it we’re going to go a couple hundred million more we can go further reduce these cuts in education that the governor wants is that going to have this budget only about one thing expenditures and what the level of expenditures are going to be I’m amazed how resolute and absent from the debate the question of taxes or increase in taxes taxes there are no taxes maybe one a legislature who we had speak to a group that we have on Monday morning said he has had two emails about taxes and about a hundred about what everybody what they’re cutting all right Jeanne bar these look will the Senate raise the threshold above 27.3 use this 500 million dollars in surplus they’re talking about you know money that they expect to get in terms of the receipts are they going to will the Senate do it and will they reduce further the cuts in the budget I don’t think you’re going to see all the five to six hundred million part of it is when you talk to people who are engaged in detail on the budget they’re not at all sure this is recurring revenue and they’re concerned about what might happen next year so there’s going to Cana me where since you mcconomy worsens again is this a one-time deal there’s some you know real issues in terms of the of the details in terms of how this tax money came in from the corporate side I I don’t know that they’re going to do the whole 500 I think it tweakin up a little bit perhaps 200 of the 500 I don’t know what number they’re going to might not even be 200 I think there’s real pressure to keep it at the 27.3 through what do you think I think they use some of it but Jean is right there is concern about the fact that some of this is not recurring revenue but I want to disagree with Fred on something I don’t think the issue is the spin number I think the issue is no new taxes and there are a number of things that they can do to to move some dollars out of the of the general fund that were put in there by the governor that can change that number but i think the real issue is no new taxes the medical healthcare healthcare is on the block here because the trade-off was restore some of the education cuts and go in to the welfare budget some 400 we get into the detail hundred fifty million will that hold up will the legislature stick to those cuts I think they’ll stick to some of them I think I’m encouraged from the standpoint that we seem to have support in the Senate for changing some of the hospital cuts that are being proposed all right one of the big we’re gonna have to run to a break but Fred one of the big issues is is is tort reform it’s generally called lawsuit abuse reform it’s been what passed twice I think before not going

anywhere what’s the prospect that lawsuit abuse reform will be passed this time and the governor will sign it I think the prospect is 50-50 there’s substantial opposition to moving the bill in the Pennsylvania State Senate many of the people who will vote for it would just as soon have it go away and we talking mostly about Republicans from the suburbs we’re talking about Republicans exclusively Republicans all the Democrats are vote against this but we’re talking about five or six Republicans from the suburbs and from the Northeast to the point yes all right what we’re talking about here is Jim explain lawsuit abuse in 30 seconds well the issue is joint and several liability which is really the deep pocket rule here in Pennsylvania were one of only a handful of states that has not dealt with this issue and House bill one is pending before the state Senate this is the bill that passed twice before and we’re hopeful that the Senate’s going to do if you’re at fault five percent you’re going to pay five percent even if you have deep pockets you’re not going to pay seventy-five percent that’s that the theory you’ve gotta change but I would say it’s a little better than 5050 I think we got a good shot this time okay doctors hospitals business local government all wanted okay when we come back how many times have you heard Marcellus Shale mentioned well gene bars going to explain that to us when we returned this broadcast of Pennsylvania newsmakers is presented by the Pennsylvania chamber of business and industry the statewide voice of business and by the Pennsylvania cyber charter school bringing educational innovation and freedom to the children of Pennsylvania this broadcast of Pennsylvania newsmakers is presented by reconnect PA org supporting a comprehensive transportation funding solution and by the Pennsylvania Manufacturers Association business in Pennsylvania is our business I welcome to welcome back to the program with our all-star panel right gene Marcellus Shale I used to think it was a planet in another solar system boy do we now know it is not right it’s no separate tax at the wellhead Severn tax no but impact fee explain that what Marcellus Shale is is in my view the biggest economic opportunity and challenge Pennsylvania’s had in decades the governor formed a commission to look at this Marcellus Shale the natural gas develop I’m on the Commission Pennsylvania as a result of this has the second largest natural gas field in the world those people who talk about energy security we now have that real opportunity presented to us this issue of a severance tax in people say oh gee the industry is getting a free ride they’re not because they’re paying the corporate taxes and other business taxes they’re required to the issue is should we ask for more the governor has said I want to let the industry develop the reality is it’s worked in many places we have two counties out or near full employment there Marcellus Shale we are going to get look but you will you will admit that there’s two concerns one would be the impact on local communities exactly right and and the potential of environmental damage so you need we need resources to handle both of them right but I think you have to separate those two issues there’s the issue of environmental has to be separated from the revenue and the other impact issue and we’re going to be debating those on the Commission I think you’re going to be debating it into the fall all right now as you know the governor has said no he’s on the Commission if the Commission and then senator Scarnati who you know has a bill that would do the impact fee that they actually vote on before the Commission gets it the Gordon the governor as I’ve seen it has not said know what the governor has said is i will look at what the Commission proposes and even though I’m against taxes I may be able to bend for an impact fee that benefits the local communities that’s what I hear him say all right what okay okay look let’s talk about this in another way sure will and I’ll start with you and I know that you know it will this come up for a vote will this gar naughty impact the bill be voted on in june or will they wait for the commission if you had a guess I don’t think the Lobo done it in June no vote in June I don’t think because there’s there’s a whole lot of other things that have to be it isn’t just you know how much money is where the money how it gets divided how it gets a portion there’s a lot of issues this but the scar naughty little bells that out in in in some detail but they have to coalesce around that it’s too complicated fairly complicated this point Center score Nadi’s bills a very sad story no so there’s a consensus know if your commission recommends I think

Fred’s point is is well made the governor then has an out he can say wrecked the Commission recommended and polls show that it’s pop and he has said he’s willing to look at it impacts everybody agrees that so youth if if you’re committing our reports do some july twenty seconds you want to give us an advance and use your compare you gonna recommend about it I mean rekha monly one of 30 or so commission members it’s it’s on it’s on that list of things to be debated by the Commission right I want to get this school choice in the next segment before I do Jim rebman abortion clinic regulation you know bill that would provide for tighter regulation of abortion you know has to do with that Philadelphia that that idiot down there that you know was performing these abortion is that a is that a huge issue in the state of you hearing much about this oh yes the House passed a bill recently that’s quite extensive and there’s also another bill in it by Senator Pat Vance and both of those bills I think are going to be considered and one of them will emerge okay we’re gladly Greg be the van photo pass yes all right school choice when we come up we’re going to start with Fred Anton round robin real quick school choice following these words this broadcast of Pennsylvania newsmakers is brought to you by Pennsylvania credit union Association Pennsylvania credit unions where people are worth more than money to find a credit union that is right for you check out I belong Oh RG and by the Energy Association of Pennsylvania Pennsylvania’s energy information source this broadcast of Pennsylvania newsmakers is presented by the state system of higher education 14 state-owned universities the state system is the largest provider of higher education in Pennsylvania and by the hospital and health system association of Pennsylvania working towards a healthy Pennsylvania credit look earlier in the year that school choice might be you know he’s not so easily accomplished but done then you’ve got this business where the Senate some senators one school choice you know pouch errs for private schools then you’ve got over on the house where they’re improving tax credits for scholarships for the schools can the are they going to get on the same page let me say three or four things there’s no leadership from the Governor on school choice okay the house the Republican majority in the house has no appetite for any school choice bill they have concluded the issue of educational reform with the increase in the EITC from sixty to a hundred thousand this year I and a 200,000 next year they will not vote so swell school choice is not going to pass school choice is not going to move now the tax credit educational tax credits will and it will if the Senate passes it but the present school choice bill in an incentive is not broad enough where we’re down to a man for pets go ahead it may not get done before they go home in June this education system Pennsylvania needs a healthy dose of competition and more needs to be done any any final word on on hospitals anything we need to know your well the key for us will be the budget and in dealing with a liability reform okay there you have it all right our all-star panel we went through a zillion issues guess what our popular financial literacy updates stay tuned we’ll tell you how to protect your money will be back in a mine this broadcast of Pennsylvania newsmakers is presented by Highmark Blue Shield changing the way health plans work for business with a variety of plan options for employers and more choices for employees information is available at highmark com have a greater hand in your company self and by the Pennsylvania health care association the future of long-term care I welcome back well our popular financial literacy update might wish now is sitting across from me as a senior VP with a credit union Association and Corinne Sherman she’s a vice president at the aforementioned credit union Association all right look I’m going to I’m going to start with you Michael credit cards debit cards use up or down in the last couple years Oh clearly up up and up in a recession it still up it’s still up debit cards particularly but more and more people are turning to

plastics and you know in many ways it’s a good thing but there’s also some concerns of consumers but now wait a minute if explain this to me I’m not so sharp when it comes to this but debit credit if debit you have the money you’re not borrowing that can’t be if that can’t be a bad thing can it no no other cars bring convenience to the consumer right allows transactions to be completed much faster and is actually less expensive for the merchants to handle the transit now let’s think about this a minute so I was my understanding as we went into this recession Michael that people were spending less saving more and using less credit you’re saying they’re still using it but they’re being more cautious about it they’re not running is up total debt that’s coming down explain that yeah I think on the credit side and Corinne probably knows a bit more about this than I do on the credits on the transaction volume is the same people are just paying down their debt they’re paying more or they’re paying their amounts in full when they can are you seeing that with your local credit union yes thanks i’m sure would be the same go ahead yeah people are paying down their credit card debt more usage is remaining the same a lot of rewards programs on credit still exist so a lot of people do use their cards for rewards and then pay them off every month yeah they have to be real careful so you understand all the terms of those things absolutely yeah I have a couple rewards cards in there actually okay the ones I use you know because I shop at a place I won’t mention it won’t know free advertising here actually isn’t bad you know if you’re going to use the product is that the whole point you got to use the product or else you’re just spending money to get a reward and you know all right if you don’t use a reward reward yeah good point all right let’s talk about credit card fraud is it Corinne is it up or down or people being more cautious about it what can you tell us about this plastic card fraud in general is up plastic card fraud is up yes both credit and debit card fraud as usage increases so does the fraud a lot of new technologies exist which allow for new ways for people criminals to perpetrate the fraud against consumers Michael are our credit unions and banks doing a better job in the last few years of informing consumers about what to look for and how to prevent it hold on if I have a credit card with you let’s say and I and something happens to it I’m protecting does that mean I don’t have to care about it well it doesn’t mean you don’t have to care about it you are protected as long as you report it within a timely manner you’re going to have a zero liability but you’re still going to have the headache of cleaning up all the problems that ensue at the end of the day you’re going to be made whole but that is really exacerbated on a debit card because that’s money coming right out of your checking it oh yeah and that could cause other things the bounce and you could have a whole slew of problems I think many of your viewers saw in the news the Michaels data breach and there have been data breaches you know I last several years tjmaxx DJ issues etc I think that what consumers need to be careful with is making sure that they protect their data and their credit card information as best they can but the credit unions the lenders are winding up stock yeah yeah but let’s let’s pursue these steps one of the things that we’ve tried to do over the years is to talk about you know consumer protection as part of this financial literacy aspect and let’s talk a bit to tell our viewers out there what they need to do to be sure that they’re not victims oh there’s a number of things consumers can do starting with signing the back of their card is important check in the monthly statements are extremely important because even if you have your card in your wallet some of the schemes that are out there some of the account compromises has Mike talked about consumers must watch their accounts very carefully be careful with any internet scams one of the things that’s happening a lot is a scheme called fishing it’s important for consumers to understand that their financial institution would never send them an email and ask them for their credit card account number their pin number or social security absolutely absolutely about the last four digits a lot of times when you’re doing something they say will give us a lift could they do anything with the last four digits if they don’t have the you know that not the last four digits of the account number it’s those three digits on the back that appear in the signature panel now this one is we’re going to reach I’m gonna have a repeat this what should we watch for it digits that appear in the signature panel of the card those are those are the key three digits that you might have noticed that now when you try to complete a transaction they ask you for

those that’s an additional layer of security that’s been added I must tell you when I ain’t up my wife does most of the buying online I’m afraid to put my credit card number down maybe I don’t know how but I’m seriously I’m afraid and every time they ask for it I back away even from things that I know I mean I maybe thats probably stupid because there are legitimate go ahead finish oh absolutely i mean the first of all if you know the merchant that should give you a level of comfort if there’s a security number no there’s a little logo oh no they go a lot a lot exactly so you’re really awesome right yeah the other thing is I am NOT uncomfortable putting my own credit card and I don’t like to put my debit card in and again for the same reasons if there was some fraud debit cards can cause a lot more problems with checking accounts degree turn I agree either debit or credit the consumer ultimately has zero liability through Visa MasterCard they offer that to you but from a debit perspective when the frauds committed as Mike said they do get it right from your checking account which can cause overdraft situations yeah another decline transactions all right let’s talk about you know if you’ve got what do you do if how do you protect yourself if you’re a victim we mean what are the steps what let’s think about that a bit well go ahead good if you’re a victim I think the first thing you need to do is contact the credit reporting agencies all big three of the credit reporting agencies and check your credit report make sure that there aren’t other things going on it’s important to put an alert on your credit report so that others know that you are a victim of identity theft or counterfeiting you should always contact the police always file report because chances are you wouldn’t be the only one you know I noticed that when they in we you’re encouraging people to go to the big three agencies I guess reporting agencies and then you’re saying well maybe just don’t use one but do more we got about 30 seconds what’s what your people do with that well yes certainly all three are combined when they look at your credit so you should put alerts on in a compromised situation but all straight right side yeah but but when you’re checking your own credit score when you just want to know what your own credit score is should you look at one two or three you think we should look at all three yeah and you can go to annualcreditreport.com get them all for free once a year there you go all right thanks all right as always thanks for watching Pennsylvania newsmakers in stay well