Democratic 1% of 1% Part 4: Penn State – Double Standard – Taxpayers Subsidize Billionaire Tax Exempt Private Corporation
Each year The Forgotten Taxpayer subsidizes PENN STATE UNIVERSITY.
In Fiscal Year 2011-2012, the Republican Governor and the Republican General Assembly voted Penn State 227,694,000 1, almost a quarter billion dollars.
For Fiscal Year 2012-2013, the Governor has proposed Taxpayer subsidy of $163,461,000 2.
PENN STATE UNIVERSITY is a multibillion dollar tax exempt corporation with an annual budget $4 billion with overpaid, under-performing professors and overstaffed and overpaid bureaucracy. PENN STATE UNIVERSITY has its own airport and owns 7 airplanes and is one of the wealthiest corporations in Pennsylvania.
Commonwealth Foundation Elizabeth Stelle 7 February : Taxpayers paid a subsidy nearly $3.5 billion to Penn State over the last decade while tuition doubled to $15,250. READ MORE
Pennsylvania Student to Faculty/Staff Ratio is an astounding 2:1 Student Enrollment –Pennsylvania 86,206
For more on Student Enrollment click here
Total Faculty/Staff 41,435
For more on Faculty and Staff click here
1 Appropriations Act 14 of 2011 June 30 HB 1731 Pennsylvania State University – education and general expenses and Pennsylvania College of Technology
2 Governor’s Budget Office link Line Item Appropriations (in millions) The Pennsylvania State University
181 General Support Last Year $214,110 This Year $149,877 ($64,233) -30.0%
182 Pennsylvania College of Technology Last Year 13,584 This Year 13,584 0 0.0%
183 Subtotal Last Year $227,694 This Year $163,461 ($64,233) -28.2%