Category: Government (Page 1 of 2)

Pennsylvania governor Shapiro now signs an executive order for housing affordability as he addresses the crisis in America.

Governor Josh Shapiro has signed Executive Order 2024-03, initiating the development of Pennsylvania’s first comprehensive Housing Action Plan aimed at addressing the state’s housing shortage, combating homelessness, and expanding affordable housing options.

This initiative is designed to ensure that all Pennsylvanians have access to safe and affordable housing, while also attracting more residents to the Commonwealth.

The Executive Order delegates the responsibility of leading this effort to the Department of Community & Economic Development (DCED), which will collaborate with various stakeholders to assess housing needs and formulate a strategic response.

The Housing Action Plan will serve as a roadmap for expanding affordable housing and providing assistance to those experiencing homelessness.

It emphasizes a coordinated, multi-agency approach that involves state, local, and federal partners, as well as private organizations.

“In order to make Pennsylvania more competitive, we must cut costs, grow our workforce, and attract more people to live and work here,” Governor Shapiro stated.

“A significant challenge we face in drawing new residents is the lack of safe, affordable housing.

That’s why my Administration is focused on practical solutions to expand housing options and reduce costs for Pennsylvanians.”

He further emphasized that the state confronts unique challenges and opportunities in the housing sector, which necessitates a comprehensive and coordinated statewide plan.

“We’re taking action to build more homes in communities that need them most, lower costs so families can remain in their homes, repair aging houses, and ensure our seniors can live with dignity and comfort.

We’re all in this together, and I’m dedicated to making sure everyone has a place they can truly call home.”

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Also Read: A Struggling Gas Station Chain Now Files An Unexpected Bankruptcy

Other Economy News Today

A new report now claims gasoline prices may plunge to $2.50 as soon as late October with some states going lower.

Gasoline prices are known to fluctuate seasonally, typically rising from mid-winter through summer and then declining in the fall.

Currently, prices are on a downward trend, with many American drivers likely to see prices fall below $3 a gallon by the end of October.

In some regions, prices could even dip to $2.50.

The recent decline in prices can be attributed to a significant drop in West Texas Intermediate crude oil, which closed at $65.75 a barrel, its lowest level since August 2021.

This marks a 19.4% decrease in the third quarter and an 8.2% decrease this year, driven by a new oil demand forecast from OPEC that has sparked a market sell-off.

Crude oil comprises about half the cost of gasoline, making these shifts impactful.

According to GasBuddy.com, the national average for gasoline is currently $3.248 per gallon, while the American Automobile Association (AAA) reports it slightly higher at $3.26.

Both figures represent a decline of 42 cents, or 11.4%, since reaching a peak earlier this year.

Notably, 11 states are already enjoying prices below $3, including Alabama, Arkansas, and Texas, with Mississippi currently holding the lowest average at about $2.75.

Market analysts, including Tom Kloza from the Oil Price Information Service, project that gas prices could continue to decline at a rate of about a penny per day over the next month, potentially bringing the national average below $3 by October 3.

Kloza also suggests that $2.50 per gallon is a realistic target by Election Day, November 5.

While some areas might see prices dip below $2, this would likely only occur in states with currently low prices, such as Mississippi, Texas, and Louisiana.

The last instance of U.S. prices falling under $2 was between March 31 and June 5, 2020.

However, several factors could influence future prices, including weather events, geopolitical developments, and OPEC’s control over oil supply, reports The Street.

Tropical Storm Francine is expected to become a hurricane and may disrupt oil production and refining in the Gulf of Mexico, where nearly half of the U.S. refinery capacity is located.

Despite the approaching storm, traders have remained relatively unfazed, with crude prices still below $70 a barrel.

OPEC’s ability to influence oil prices is limited as it faces competition from the U.S., the world’s leading oil producer.

Additionally, softening demand from major economies, such as China, and the growing prevalence of electric vehicles are also contributing to lower gasoline demand.

However, states like Oregon, Idaho, and California may continue to see higher prices due to taxes and regulations.

Overall, residents across the U.S. can expect to benefit from falling gas prices in the near future.

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Also Read: A Struggling Gas Station Chain Now Files An Unexpected Bankruptcy

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