Governor-Elect Wolf Names Budget Deficit and Fiscal Stabilization Task Force
November 25, 2021 by Wolf Transition
YORK, PA - Governor-elect Tom Wolf today named his full Budget Deficit and Fiscal Stabilization Task Force, which will work to address the looming budget deficit. The Task Force will be led by Mary Soderberg and Montgomery County Commission Chairman Josh Shapiro.
Earlier this month, the Independent Fiscal Office found that Pennsylvania is facing a multi-billion dollar budget deficit. This news is only the beginning of what we will learn about the structural budget problems left by the current Administration. In addition to the projected budget deficit, Governor-elect Wolf will enter office amid cash flow projections that indicate the state will be cash flow negative from January through March.
"Pennsylvania is facing challenging economic times, a multi-billion dollar budget deficit, and negative cash flow projections," said Governor-elect Tom Wolf. "My Budget Deficit and Fiscal Stabilization Task Force will get to work to determine the scope of the challenges facing Pennsylvania and begin to discuss how we can get Pennsylvania's fiscal house in order."
Mary Soderberg - Chair
Mary A. Soderberg is the former secretary of the budget appointed by Governor Edward G. Rendell and began serving in the position on July 7, 2008. Prior to her appointment as secretary of the budget, Soderberg had served since August 2005 as executive deputy secretary of the budget and chief financial officer of the commonwealth. Before joining the budget office, Soderberg was vice chancellor for finance and administration of the Pennsylvania State System of Higher Education for two years. Soderberg also served as the executive director of the House Democratic Appropriations Committee from 1992 to 2003.
Josh Shapiro - Vice-Chair
Josh Shapiro was elected Montgomery County Commissioner in 2011 and was elected unanimously to Chair the three-member Board on January 3, 2012. As the Commission Chairman, Josh helped lead a dramatic turnaround in Montgomery County by eliminating a large budget deficit, reducing overall debt, and replenishing the County reserve fund. Prior to his election in Montgomery County, Shapiro represented the 153rd Legislative District in the state House for seven years. Before serving in the state legislature, Josh served as a Congressional staffer in Washington, D.C. where at age 25 he became, at the time, the youngest person on Capitol Hill to serve as a Congressional Chief of Staff.
Clarence D. Armbrister is the current president of Girard College. Armbrister became Interim President in July 2012. Armbrister is the former Chief Operating Officer at Temple University and Managing Director of the Philadelphia School District. Armbrister also served as Chief of Staff to Mayor Michael A. Nutter from 2008-2011, where he led the daily operations of the administration and its 23,000 public employees. Armbrister, a lawyer by training, is the former Philadelphia City Treasurer (1994 to 1996) who also served as a partner in the Public Finance Department at the Saul Ewing law firm and as an investment banker at UBS, leaving that firm as a Director in 2004 prior to joining Temple University. A native of Florida, Armbrister is a graduate of the University of Pennsylvania and the University of Michigan Law School.
Richard (Rick) Bloomingdale is the fourth President of the Pennsylvania AFL-CIO. Prior to his election as President, Rick served as the Secretary-Treasurer of the Pennsylvania AFL-CIO since June 1, 1994. He began his career in the labor movement with AFSCME in 1977. In his role as Secretary-Treasurer, Rick served on various Boards. In December of 2003, Rick was appointed by Governor Rendell and confirmed by the Pennsylvania Senate to serve on the Unemployment Compensation Board of Review. In August of 2005, Rick was appointed as Chairman of the Unemployment Compensation Board of Review by the Governor, a position he held until 2012. He also serves as a member of the PA Unemployment Compensation Advisory Council. Rick is also a member of the Board of Directors of Drug-Free Pennsylvania, Inc. and Treasurer of the Keystone Research Center.
Ida Castro currently serves as president of the board of directors at the Employment Opportunity & Training Center of NEPA. Ms. Castro also serves as vice president for Social Justice & Diversity for the Commonwealth Medical College. From 1998 to 2001, Castro served as chair of the U.S. Equal Employment Opportunity Commission. Prior to joining the EEOC, Ms. Castro served as the Acting Director of the Women's Bureau at the United States Department of Labor from 1996 to 1998. She also served at Department of Labor as Deputy Assistant Secretary and Director of the Office of Workers' Compensation Programs from 1994 to 1996. Prior to her service in the Clinton Administration, Ms. Castro worked as a labor and employment lawyer as well as a professor. She was the first Hispanic woman to earn tenure as an Associate Professor at Rutgers University, Institute for Management and Labor Relations.
Dennis M. Davin is Director of Allegheny County Economic Development (ACED). Dennis also serves as Director of the Allegheny County Redevelopment Authority and Executive Director of the: Industrial Development Authority, Hospital Development Authority, Higher Education Building Authority, and Residential Finance Authority. Dennis is responsible for the overall development and implementation of the economic strategy for Allegheny County, and manages 75 employees and funding from local, state, and federal resources to implement economic development activities such as: site development, new job creation initiatives, community development, and affordable housing for approximately 1.25 million citizens in 130 municipalities. He is also an active board member of the Allegheny County Airport Authority.
Michael Newsome is the Executive Vice President and Chief Financial Officer at the Wolf Organization. A 1975 graduate of Lafayette College, Newsome has over 30 years of financial management experience with some of Central Pennsylvania's leading firms. He is also very active in the community, lending his financial and strategic guidance to various non-profit organizations, including the York County Community Foundation, York County Heritage Trust, Memorial Hospital and the Youth build Charter School of the Crispus Attucks Association.
Prior to founding TriState Capital Bank, Bill Schenck was Pennsylvania Secretary of Banking, appointed by Governor Rendell in January 2003. In that capacity, Bill led the state Banking Department, supervising Pennsylvania state-chartered banks, trust companies, savings and loan associations, credit unions and non-depository financial services companies. Bill has spent more than 30 years working in the banking industry beginning with PNC Bank, where he rose through the ranks to the position of executive vice president in charge of consumer and small business banking. Bill then served as vice chairman of Great Western Financial Corporation, Chatsworth, CA, a $43 billion financial services company. He was then chairman and chief executive officer of Fleet Mortgage Group, Inc., Columbia, SC, one of the top-five mortgage companies in the US.
Glenn D. Steele
Glenn D. Steele Jr., MD, PhD, is President and Chief Executive Officer of Geisinger Health System. Dr. Steele joined Geisinger Health System as President and Chief Executive Officer on March 1, 2001. He arrived at Geisinger from the University of Chicago, where he served as Richard T. Crane Professor in the Department of Surgery, Vice President for Medical Affairs, and Dean of the Division of Biological Sciences Division and the Pritzker School of Medicine. Prior to that, he was the William V. McDermott Professor of Surgery at Harvard Medical School, President and Chief Executive Officer of Deaconess Professional Practice Group and Chairman of the Department of Surgery at New England Deaconess Hospital. Dr. Steele is past Chairman of the American Board of Surgery and he serves on the editorial board of numerous prominent medical journals. Dr. Steele is is also the author or co-author of more than 460 scientific and professional articles.
Larry Stern is the former Chief Executive Officer at Talecris Biotherapeutics, where he helped orchestrate the company's IPO in 2009. Before serving as CEO, Stern was Talecris’ executive chairman. From January 2003 to November 2003, he worked as an independent consultant supporting debt and equity transactions. He served as Director of Centric Health Resources, Inc. Mr. Stern served as a Director of Talecris Biotherapeutics Holdings Corp. and Talecris Biotherapeutics, Inc., from April 2005 to June 1, 2011. Mr. Stern holds a BS in Chemical Engineering from Cornell University in 1979 and an MS from the Massachusetts Institute of Technology in 1981.
Robin Wiessmann is a public finance professional. In 1990, she founded a woman-owned financial services company. Prior to serving as State Treasurer, Wiessmann was the Deputy Director of Finance for the City of Philadelphia. In 1999, she received the “Breaking the Glass Ceiling Award” from the National Women Executives in State Government Association. Wiessmann graduated cum laude from Lafayette College and received her law degree from Rutgers University. She currently resides in Bucks County with her husband and two children.
David Yarkin currently serves as President of Government Sourcing Solutions. David is a recognized expert on strategic sourcing in the public sector. As Deputy Secretary for Procurement of the Pennsylvania Department of General Services, David led what has been called “the most sweeping transformation of state procurement in decades.” During his tenure, Pennsylvania saved $140 million (now $360 million) annually through strategic sourcing and established a procurement shared services center, centralizing all state contracting under DGS. David graduated cum laude from Harvard University.
Janet L. Yeomans
Janet L. Yeomans served as a Vice President and Treasurer of 3M Corporation from January 2006 to May 2012. Ms. Yeomans served as Vice President of 3M Corporation from July 1995 to January 2003. She served as Vice President of Mergers and Acquisitions of 3M Corporation from January 2003 to January 2006. She has held various management positions at 3M Corporation since 1983. She has over twenty-seven years of business experience. Ms. Yeomans has been an Independent Trustee of Delaware Group Income Funds - Delaware Extended Duration Bond Fund and Delaware Enhanced Global Dividend and Income Fund since April 1999. She served as an Independent Trustee of Delaware Extended Duration Bond Fund. She served as an Independent Director of Delaware (DMC, Voyager and Voyageur ) funds in fund complex. Ms. Yeomans holds degrees in Mathematics and Physics from Connecticut College and an M.B.A. degree from the University of Chicago.
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