Morning Money: Back to work

And we’re back, after yesterday’s Morning Money hiatus, with the news that $27 million in federal stimulus money has been given to the city to use for loans and grants to small businesses. Mayor Nutter says that the program will create jobs.

Across the state, a contentious prevailing wage law received a critical unanimous vote from Pittsburgh’s City Council on Wednesday. The law would require large businesses to pay at least the median city-wide wage for certain jobs. Council could hold a final vote on the bill as early as Tuesday.

In tough economic times, New Jersey towns voted down seven out of nine school-district referendums that would have hiked taxes to pay for school construction. Voters in Pennsauken, the only South Jersey town with a referendum, defeated a proposed $34.7 million proposal that would have replaced one elementary school and closed another.

Over in Delaware, Wilmington city officials are contemplating budget cuts and delaying paying back wages to police offifers to head off a budget deficit next fiscal year. The city is expected to end this fiscal year $6.9 million in the red.

And finally, the Obama administration has announced the recipients of $8 billion in high-speed rail grants. Most of the Pennsylvania money will go toward eliminating three grade crossings on the route from Philadelphia to Harrisburg to allow trains to maintain a top speed of 110 miles per hour.

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