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6 minute read
Let’s talk Social Security instead of about Morrissey
Instead of wasting time, energy, resources and newsprint on calling for Sen. Joe Morrissey to resign, I suggest you focus your efforts on changing a common practice that leads to perpetual inequality.
Everybody completely overlooks the perpetually damaging effects of annual Social Security c ost-of-Living Adjustments (cOLAs) because they seem fair, since the same percent is used across the board. But the amounts given to those who receive low benefits compared to those who receive higher benefits are very different and even figure into the continuance of unequal cOLA amounts year after year, a major factor in the continual growth of income inequality.
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In 2022 some recipients received as little as $300 a month, while others received more than $2,600 a month. This discrepancy is due to everyone receiving benefits based on his or her contributions during their working life and is fair because those who paid in more should get more back. What is not fair are the amounts generated by multiplying these benefits by the same percentage in order to enable recipients to cope with inflation.
For example, the recent 8.7 percent cOLA increase meant an increase of $26 or $260 a month, depending on whether you received $300 or $2,600. Does the $2,600 recipient need 10 times as much to cope with inflation as the $300 recipient? The opposite is true and should be addressed by basing cOLAs on the actual amount of increase in buying essentials likes food, prescriptions, gas and shelter. Please focus on exposing legislative practices that contribute to income inequality and institutional racism rather than the innocuous behavior of one of our elected representatives.
Sen. Morrissey is not alleged to have committed any crimes and has paid the penalty for all the crimes he has committed. We owe him forgiveness, not condemnation. And we need to focus on larger issues that affect us all.
SHIRLEy DESIMOnE, PH.D. Richmond
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As we approach the midpoint of the 2023 General Assembly Session one of the biggest battles brewing is over what to do with the identified additional $3 6 billion available in the budget this fiscal year
Our first priority must be to ensure the General Assembly fully funds its public education system and meets the growing mental health needs of Virginians
We should then focus on providing tax relief to families with children
The past few years have been difficult for families particularly with rising costs In November a Census Pulse Survey showed that 44% of Virginia s households with children indicated that they are having a difficult time paying typical household expenses, such as food, rent or mortgage, car payments, medical expenses, and student loans This economic insecurity impacts children s learning growth and development
The expanded federal Child Tax Credit provided under the American Rescue Plan proved a valuable tool in reducing child poverty which fell to just 9 percent in Virginia in 2021 Parents reported spending funds received from the credit on food diapers school supplies and other family needs
With so many parents concerned about supporting their kids, it s no surprise that 72% of Virginians support the Child Tax Credit on a bipartisan basis
Unfortunately the expanded federal Child Tax Credit expired at the end of 2021
It’s time to take action at the state level
That s why I introduced legislation this session with Senator Adam Ebbin (DAlexandria) and Delegate Kathy Tran (D-Fairfax) to create a state Child Tax Credit, which would provide a refundable tax credit of $500 per child for families making $100,000 or less
This would help an estimated 737,000 families in Virginia address the rising costs of raising
The tax credit would have an immediate impact on families for example covering the costs of over 16 months of gas bills or 313 gallons of gas 3 448 diapers or over a month s worth of groceries We saw how transformative the American Rescue Plan Act s temporary expansion of the federal Child Tax Credit was for families with children, reducing child poverty to record lows We know that a vast majority of Virginians support this measure and we know a growing number of them are feeling insecure about the ability to cover their children’s basic needs We also know that we have the resources available to make the Child Tax Credit a life-changing reality for so many families
Now is the time to provide proven relief to Virginia families from rising costs and I am proud to champion this legislation on behalf of the children and families here in Richmond and across the Commonwealth
I look forward to updating you on the Child Tax Credit and other issues before the General Assembly in the coming weeks To learn more and stay engaged contact me or my staff at district09@senate virginia gov or (804) 698-7509
2022, in Case No. PUR-2021-00282. Through its Petition, Dominion seeks to recover projected and actual costs related to compliance with the mandatory renewable energy portfolio standard program (“RPS Program”) established in the Virginia Clean Economy Act (“VCEA”).
Pursuant to Code § 56-585.5 C, Dominion is required to participate in an RPS Program that establishes annual goals for the sale of renewable energy to all retail customers in thein accordance with the schedule set forth in Code § 56-585.5 C. The statute permits Dominion to apply renewable energy sales achieved or RECs acquired in excess of the sales for RPS Program compliance from resources it does not own, the Company shall be entitled to recover the costs of such RECs pursuant to Code §§ 56-249.6 or 56-585.1 A 5 d. Code § 56-585.1 A 5 d, as amended by the VCEA, provides that a utility may petition the Commission for approval of one or more rate adjustment clauses for the timely and current recovery from customers of:
[p]rojected and actual costs of compliance with renewable energy portfolio standard requirements pursuant to § 56-585.5 that are not recoverable under subdivision 6.
The Commission shall approve such a petition allowing the recovery of such costs incurred as required by § 56-585.5, provided that the Commission does not otherwise In its Petition, Dominion states that it will meet the annual requirements of the RPS Program through the retirement of RECs that will be sourced from a combination of RECs generated from Company owned renewable energy facilities, RECs generated from renewable energy facilities owned by an entity other than the utility with which the Company has entered into a power purchase agreement, long-term REC only contracts, and market purchases. The Company states that it may bank the RECs generated by Virginia facilities from 2021 through 2024 for use in 2025 when the requirement for Virginia-located resources begins. determined the projected volume of RECs that the Company would need to utilize from its bank or purchase from the market. For any RECs the Company would need to purchase or utilize from the bank, the Company states it multiplied the volume of RECs by a weighted average price in order to determine the cost of the gross purchases and banked RECs needed for the Rate Year. The Company expects to need approximately 10.9 million RECs during the Rate Year, approximately 109,000 of which it says must come from distributed energy resources. According to the Company, once it determined the total costs of RECs to be recovered in this proceeding, it applied a Virginia jurisdictional allocation.
The revenue requirement for Rider RPS includes both a Projected Cost Recovery Factor and an Actual Cost True Up Factor. In this proceeding, the Company seeks approval of a Projected Cost Recovery Factor Revenue requirement of $104,343,202, and an Actual Cost True-up Factor revenue requirement of $6,862,761, for a total revenue requirement of $111,205,964 for the Rate Year. If the proposed Rider RPS for the Rate Year is approved, the impact on customer bills would depend on the customer’s rate schedule and usage. According to Dominion, implementation of its proposed Rider RPS on September 1, 2023, would decrease the monthly bill of a residential customer using 1,000 kWh per month by approximately $0.28 compared to the current Rider RPS. Interested persons are encouraged to review the Petition and supporting documents for the details of these and other proposals
The Commission entered an Order for Notice and Hearing in this proceeding that, among other things, scheduled public hearings on Dominion’s Petition. On April 17, 2023, at 10 a.m., the Hearing Examiner assigned to this case will hold a telephonic hearing, with no witness present in the Commission’s courtroom, for the purpose of receiving the testimony form on the Commission’s website at scc.virginia.gov/pages/Webcasting; (ii) by completing and emailing the PDF version of this form to SCCInfo@scc.virginia.gov; or by calling (804) 371-9141. This public witness hearing will be webcast at scc.virginia.gov/pages/Webcasting
An electronic copy of the Company’s Petition may be obtained by submitting a written request to counsel for the Company, Elaine S. Ryan, Esquire, McGuireWoods LLP, Gateway Plaza, 800 East Canal Street, Richmond, Virginia 23219, or eryan@mcguirewoods.com Commission, c/o Document Control Center, P.O. Box 2118, Richmond, Virginia 23218-2118. Such notice of participation shall include the email addresses of such parties or their counsel, if available. The respondent simultaneously shall serve a copy of