Video & Transcript Research : 'rate decoupling'
Page 84 of 500
TX
Transcript Highlights:
- Uh, those are all other, uh, certainly pressures on our rates, uh, on our, on our water rates, and so
- Important to a ratepayer that I can predict your rate.
- And we did this before we reset the rates.
- Rates tend to always be the elephant in any room.
- Additionally, they also tend to have higher compliance rates.
MN
Transcript Highlights:
- They're attempting to get this job done at an affordable rate.
- We've spent our own money through rates.
- high property taxes with a city rate of high property taxes with a city rate of $1 $1 $1 127%<00:30:23.640
- The cost escalated at an alarming rate.
- <01:03:21.400>
compared of the highest sewer rates when compared of the highest sewer rates
Bills:
HF201, HF217, HF314, HF315, HF406, HF408, HF425, HF426, HF730, HF731, HF652, HF761, HF1079, HF928, HF1017, HF1056, HF1081
Keywords:
HF201, Minnesota income tax, tax subtraction, tax deduction, volunteer firefighter, volunteer fire and rescue, emergency responder, ambulance service personnel, EMR, EMS, search and rescue, canine search and rescue, underwater search and rescue, paid-on-call, part-time volunteer, tax relief, state tax law, section 290.0132, drivers license, identification card
NH
New Hampshire 2025 Regular Session
House Finance Division II (03/25/2025)
Transcript Highlights:
- versus a higher rate?
- for the 30% rate to is important for the 30% rate to incentivize<00:14:41.880>
the <00:14:42.079 - likely to transition at the 30% rate likely to transition at the 30% rate versus<00:15:14.440>
- was 45% rate whatever the other rate was 45% rate what<00:16:25.800>
would <00:16:26.199>the - And the transition is separate from the tax rate, and I am of the belief that at a 45% tax rate they
- was 45% rate whatever the other rate was 45% rate what<00:16:25.800>
Summary:
The committee first heard Representative Sweeney present and defend the budget amendment legalizing video lottery terminals (VLTs) and setting a 30% tax rate, with 65% of the tax going to the state and 35% to charities. He argued the lower rate was needed to encourage operators of historic horse racing (HHR) machines to convert to VLTs, saying the higher 45% rate would discourage adoption. He walked through revenue projections for fiscal years 2026 and 2027, estimating significant increases in state and charity revenue as machines transition over time, and said the amendment was designed to expand charitable gaming revenue overall.
Several members questioned the assumptions behind his projections and the basis for his analysis, including why his independent research differed from the governor’s and Lottery Commission’s estimates. Sweeney said his figures were based on research into other states and conversations over many years, and he maintained that a 45% tax would likely result in no VLT adoption. Members also debated whether the transition costs for operators would be quickly recouped and whether the state’s share should be larger. One member emphasized that the committee was effectively choosing between a lower operator share and a higher state share, while Sweeney argued the 30% structure would produce revenue for everyone.
The committee then moved to other revenue items on the tracking sheet. It voted 7-0 to accept the Lottery Commission’s revised base revenue estimates. Members also discussed an amendment to repeal the local option requirement for Kino games, which would expand Kino availability and was estimated to generate additional lottery profit in fiscal years 2026 and 2027. That amendment drew opposition from members who said local control was an important part of the original Kino policy and that removing it would override municipal decisions. The committee also noted that the VLT/HHR revenue item had already been adopted and was being revisited only to confirm the associated revenue estimates.
TX
Transcript Highlights:
- Current law allows a taxing unit to levy an INS tax rate in addition to an M&O tax rate.
- However, we don't have the same restrictions on tax increases as we do on M&O rates for INS rates.
- : state what the minimum INS tax rate would be, state the proposed rate, state the difference between
- Senate Bill 1453, relating to the current debt rate and tax rate of a taxing unit for ad valorem tax
- and the use of that rate in calculating certain other ad valorem tax rates, to Local Government.
Summary:
The Senate convened with a quorum, heard an invocation, and adopted the previous day’s journal. Members then adopted Senate Resolution 358 honoring the University of Texas Rio Grande Valley on its 10th anniversary, with remarks highlighting UTRGV’s growth, degree production, research expansion, medical school, and role in serving the Rio Grande Valley and South Texas. The chamber also recognized the doctor of the day and adopted additional resolutions, including one for Denton County Days at the Capitol and another recognizing Texas HBCU Day.
The Senate gave extensive recognition to outgoing Texas A&M University System Chancellor John Sharp through Senate Resolution 368. Senators from both parties praised his long public career, leadership of the A&M System, support for regional universities, and bipartisan approach. The resolution was adopted after multiple members added their names. The chamber also heard from advocates with the Texas Streets Coalition, and received gubernatorial nominations for the State Board of Examiners of Professional Counselors and the Texas Commission on Fire Protection.
On legislation, the Senate passed several major bills. Committee Substitute Senate Bill 27, relating to rights and support for public school educators, was debated and amended to address teacher vacancies, bilingual certification testing, paid leave options, classroom removals, and appeal rights, then passed unanimously. Senate Joint Resolution 12, proposing a constitutional amendment on parents’ right to direct a child’s education, advanced on a 22-9 vote. Committee Substitute Senate Bill 1741, aimed at preventing foreign influence and intellectual property theft at public institutions of higher education, passed unanimously. Committee Substitute Senate Bill 29, the business entities bill, also passed after debate over corporate governance and shareholder protections. Senate Bill 857, authorizing law enforcement to tow certain vehicles driven by unlicensed or uninsured drivers, passed despite some concern about towing abuses during disasters. The Senate also took up Committee Substitute Senate Bill 1536 on dementia and Alzheimer’s training for certain guardians, but the transcript ends as that bill is being laid out.
MO
Transcript Highlights:
- The current rate, it's based on the CPI... We will get you last year's rate.
- So it's just a calculation on that rate. But we'll get you last year's rate. This year's is 2.059.
- I will tell you, if I look at my vacancy rates, my vacancy rates have improved quite a bit.
- Error rate.
- Are error rates down? Yes. Yes, error rates down. Thank you for the correction.
NM
New Mexico 2026 Regular Session
House - Appropriations and Finance Jan 13th, 2026 at 01:35 pm
House Appropriations & Finance
Transcript Highlights:
- The executive added in those additional GSD and DOIT rates.
- rate study, you know, we were trying to be very mindful and intentional about how we asked for the Rate
- increases: So the last time we had a rate study, we broke up the rate increase into two fiscal years
- So that's my rate increase A discussion on support decision making.
- You know, insurance rates go up, insurance premiums go up.
TX
Transcript Highlights:
- agencies and how they rate us, and we've, we've maintained high ratings almost no matter what we do
- The, the rating agencies use a wide range of factors.
- I mean the, the credit rating agencies have been brought up.
- But we don't, it's fair to say we don't work for the credit rating agencies, right?
- Um, Lowering, um, yeah, I mean, if you lower the rate, um, uh, well, I don't know that.
Bills:
SJR 4
MN
Transcript Highlights:
- In December, 103 absences; 55.93% fill rate; 26 classrooms.
- >
26 December 103 55.93 per fill rate 26 December 103 55.93 per fill rate 26 classrooms<01:24: - Guardians our current substitute rates Guardians our current substitute rates are<01:25:40.040><
- local competition is between those rates local competition is between those rates and<01:26:16.080
- That come down to at an hourly rate, you know?
ND
North Dakota 2026 1st Special Session
Legislative Audit and Fiscal Review Committee Mar 24th, 2026 at 10:00 am
Legislative Audit and Fiscal Review Committee
Transcript Highlights:
- If not, the standard requires a blended discount rate that incorporates the municipal bond rate.
- expected rate with the 3.69% municipal bond rate.
- So infant and toddler rates were maintained at the 75th percentile of market rate.
- Preschool, school-age, and part-time rates were set at the 50th percentile of market rate.
- higher rated providers.
ND
North Dakota 2026 1st Special Session
Budget Section Leadership Division Mar 18th, 2026 at 01:00 pm
Transcript Highlights:
- The result is over $200 million earning a lower rate of We're going to.
- And we typically get rates very close to the existing CD rates that we have.
- Our statewide unemployment rate is currently 2.5%, and our labor force participation rate is nearly 70%
- All right, our unemployment rate is 2.5% for North Dakota, like I said before.
- or recidivism rate is about 40%.
Summary:
The Leadership Division of the Budget Section approved the prior meeting minutes and then received an update from Senator Jonathan Sickler on the Cash Management Board’s interim work under House Bill 1278. He said the board has reviewed state cash, investments, and liquidity across agencies and concluded the state’s overall mix of long-term and short-term assets is appropriate, with about $35 billion in total liquid assets and investments and roughly 89% in longer-term investments. He highlighted process improvements already underway, including replacing more than 500 six-month CDs with a special-rate savings account to reduce administrative work, and said the board sees opportunities to improve forecasting, automation, and statewide coordination. Members asked about whether the CD change would increase returns, how the Legacy Fund transfer for the homestead tax relief bill affected earnings, and whether more state cash could be consolidated or better managed through BND; Sickler and BND staff said those issues are being studied and may lead to legislation for the 2027 session.
Representative Nathan Toman then updated the committee on the Task Force on Government Efficiency. He said the group has focused less on cutting dollars and more on defining metrics and asking how the legislature knows whether programs are working. The task force is pushing a standard set of questions for new or expanding programs—who is affected, expected outcomes, alternatives, how success will be measured, and full funding—and OMB has agreed to require those answers in future budget requests. Members discussed possible use of dashboards, program evaluators, AI tools, and possible rule or statutory changes to require performance measurement. Toman said the task force will continue meeting with agencies such as the courts, university system, auditor, HHS, Commerce, and ITD to identify workflow bottlenecks and potential efficiencies.
Phil Davis of Job Service North Dakota gave a workforce update, reporting that North Dakota’s unemployment rate is 2.5% and labor force participation is about 68.7%, both well above national performance. He described Job Service’s 15 workforce programs, including H-2A housing inspections for foreign agricultural workers, the job placement partnership program with DOCR, WOTC, and other federal and state workforce efforts. Davis said the agency served more than 11,000 individuals in 2025, operates nine workforce centers, and tracks outcomes through quarterly and annual reporting. In response to questions, he said job openings data reflect only positions in the system and may understate actual hiring needs, that child care and other assistance programs could be better tied to employment outcomes, and that the DOCR partnership has shown strong results with lower recidivism and higher earnings. He also said the H-2A inspection workload is growing quickly and additional staffing or less frequent federal inspection requirements could help.
Allen Knutson then presented S&P Global’s updated revenue forecast. He said oil prices have risen sharply since the prior month’s outlook, improving the state’s near-term revenue picture, though the economy remains volatile and agriculture is facing weaker commodity prices. Based on the updated forecast, total major tax revenues for the current biennium are projected to be about $89 million above the legislative forecast, and the next biennium could be about $500 million higher, though that estimate is preliminary and may change. He also walked through an alternate oil-price scenario showing significantly higher oil and gas collections and a larger Strategic Investment Fund balance if prices remain elevated. Members asked whether another forecast should be requested once oil markets stabilize and about tribal allocation changes in the alternative scenario; Knutson said additional updates are possible through OMB and future forecast cycles.
MN
Transcript Highlights:
- on the individual income tax at a rate on the individual income tax at a rate sufficient<00:27:07.480
- <00:43:37.319>
by rate by rate by 2.6%<00:43:39.040>and <00:43:39.319>cut <00:43 - :43:40.559>
nearly 2.6% and cut the federal rate by nearly 2.6% and cut the federal rate by nearly - rate rate um<01:31:28.480>
jails <01:31:28.920>and <01:31:29.080>correctional <01 - that they can have lower interest rates that they can have lower interest rates for<01:36:07.600
MN
Minnesota 2025 1st Special Session
House Children and Families Finance and Policy Committee 1/21/25
Children and Families Finance and Policy
Transcript Highlights:
and programs um a quality rating and programs um a quality rating and Improvement<01:11:07.760- And I said that like there was one rate, but there are also actually tons and tons of rates because the
- that are set in statute and those rates that are set in statute and those rates<01:14:33.840>
are - <01:14:48.760>
by <01:14:48.920>County rates because the rates vary by County rates - providers can receive increased rates providers can receive increased rates under<01:14:57.920><
Summary:
The committee met for an introductory overview of its jurisdiction and budget, with the chair emphasizing the committee’s role over a large portfolio of children, youth, and family programs and the new Department of Children, Youth, and Families (DCYF). House Research and House Fiscal staff explained their roles and described the 2023-24 reorganization that transferred many programs from DHS, DPS, MDH, and MDE to DCYF, along with a statute recodification and a crosswalk resource for members. Doug Berg then walked through the committee’s budget structure, explaining the difference between all-funds and general fund views, the major funding sources, and how forecasted programs and grant bases roll forward. He highlighted that the committee’s general fund base is a little over $2.1 billion for the biennium, with large federal components such as SNAP and TANF, and noted smaller accounts including child protection-related opioid funds and federal reimbursement offsets (FFP) for administrative costs.
Members asked several questions about federal financial participation, TANF, and the effect of the repeal of the Diversionary Work Program (DWP). Staff explained that FFP generally applies to administrative costs for federally related programs and usually does not change much unless program activity changes, while TANF is a block grant that has been stable for years. On DWP, staff said the program was sunsetted effective March 1, 2026, and that the associated funding and administrative costs were being reworked rather than simply removed. A member also asked about federal funding fluctuations; staff said no changes were currently factored in, though SNAP or other federal policy changes could alter future numbers.
Danielle Penelli then presented on economic assistance and employment supports transferred to DCYF, focusing first on MFIP, Minnesota’s state-supervised, county-administered welfare program jointly funded by state and federal dollars. She explained that MFIP provides cash and food assistance, employment and training services, and related supports, with a 60-month time limit and certain exemptions for illness, incapacity, or other barriers to employment. She also described the program’s income and asset standards, including a $10,000 asset limit with exclusions for homesteads and one vehicle per assistance unit member age 16 or older. Members asked clarifying questions about how the time limit applies and what assets count, and staff responded that the limit applies to the caregiver and does not restart with additional children.
Penelli also introduced support services grants, which fund employment services for MFIP, DWP, and SNAP participants through workforce centers, counties, tribes, and community agencies, and help cover some county and tribal administrative costs. She began outlining nutrition programs under DCYF, including SNAP, the Minnesota Food Assistance Program, the Minnesota Food Shelf Program, the Emergency Food Assistance Program, and the American Indian Food Sovereignty Program. No formal votes or bill actions were taken during this meeting; it was primarily an informational staff briefing and question-and-answer session.
AR
Arkansas 2026 1st Special Session
EDUCATION- HOUSE EARLY CHILDHOOD SUBCOMMITTEE Feb 17th, 2026
Transcript Highlights:
- What's the formula for determining reimbursement rates?
- Should we look at poverty rate requirements and expanding it and open up... ...reimbursement rates.
- So we actually have more providers now with the new rates than we did under the old rates.
- That has impacted our reimbursement rates in this grant and will also impact reimbursement rates in a
- The rate change was their reason for closing.
Summary:
The committee met in a workshop-style discussion with Arkansas Department of Education early childhood officials to review the state’s early learning programs, especially ABC and SRA/CCDF, and to consider long-term sustainability, access, and quality. Officials said ABC funding was flat at $11 million from 2009-2010 until a $3 million increase in 2018, while CCDF/SRA funding is about $137 million. They reported ABC serves about 23,000 children, SRA about 14,871, and the SRA wait list has grown to 2,971 children, with breakdowns by age provided during the meeting. They also said the current ABC per-child cost is about $5,105, compared with roughly $8,000 in K-12, and that a new market-rate/cost-of-care study is due because the last one was about three years ago.
Members raised concerns about rural and urban access, provider deserts, school-based versus community-based slots, and whether the state should expand or rebalance funding to better support infant-toddler care and mixed delivery. Officials said they are working on identifying gaps, moving slots where possible, and using local leads and quality measures such as CLASS observations to improve kindergarten readiness. They also discussed the transition of federal pre-K funding ending at the end of June, with children either moving into ABC or requalifying for SRA, but without grandfathering beyond bypassing the wait list if already enrolled.
A major topic was the impact of new co-pays and funding reductions on families and providers. Officials said the state had to make changes to preserve the programs, and that paying based on enrollment rather than allocated slots saved about $576,000. They also said eight providers cited funding as the reason for closing, while 26 new providers were added under the new rates. Members questioned dual enrollment in home visiting/HIPPY and ABC, and officials said about 1,200 children are dually enrolled, with a possible savings of about $2.4 million if that practice were limited, though members cautioned about unintended consequences for children with developmental needs. The meeting ended with agreement to continue regular updates and further work on simplifying and stabilizing the early childhood system.
NM
New Mexico 2025 Regular Session
IC - Legislative Health and Human Services Nov 6th, 2025
Legislative Health & Human Services Committee
Transcript Highlights:
- From 2010 to 2022, there was a 61% decline in the arrest rate for violent crimes.
- It talks about arrest rates, and I thought, great. Violent crimes are down.
- We engaged in intensive negotiations with each carrier during the rate review process to minimize rate
- But in the group market, the average rate increase was lower.
- You know, on your page 3, 2026 rate review. That, um.
TX
Transcript Highlights:
- the rates that we're being presented with.
- reimbursement rate.
- rate.
- In addition, Texas workers' comp rates are artificially low.
- Set your rate based upon someone else's rate.
Bills:
SB 30, SB 517, SB 1313, SB 1314, SB 1316, SB 1541, SB 1698, SB 1845, SB 1860, SB 2420, SB 2429
Keywords:
gambling, criminal offenses, penalties, defense, electronic devices, tobacco advertising, youth protection, public health, criminal offense, retailer regulation, e-cigarettes, nicotine products, health, public safety, regulation, advertising restrictions, health and safety, elections, election audit, county elections
Summary:
The Senate Committee on State Affairs convened to discuss several critical pieces of legislation including SB30 and SB38. Senator Betancourt introduced a committee substitute for SB38 which underwent a smooth adoption process, moving it favorably toward the Senate. The meeting featured a mix of invited testimonies where both proponents and opponents took the floor. One notable highlight included a testimony from Melissa Casey, who criticized the current legal state as prone to fraud and detrimental to both insurers and the public at large, contending that it inflated insurance costs across the board. The discussions delved deeply into the implications of the bills on judicial processes and potential insurance ramifications, with spirited debates surrounding issues of non-economic damages and jury rights.
The atmosphere remained engaged as committee members heard varied perspectives on the bills, showcasing a robust democratic process. The meeting underscored the importance of public testimony in shaping legislation, ensuring that multiple voices were considered as the committee pressed on towards making decisions that affect the legal landscape of Texas.
MA
Massachusetts 2025-2026 Regular Session
Senate Committee on Climate Change and Global Warming Jun 21st, 2026 at 10:00 am
Senate Committee on Climate Change and Global Warming
Transcript Highlights:
- cases. and this is because Leak-prone pipe should be recovered in base rate cases.
- customer base, and those rates will rise for the remaining customers.
- So GSEP spending starts outside the rate base and traditional rate making in the bar chart to the right
- The figure to the left shows a gas rate case, which was in 2020.
- So GSEP spending starts outside the rate base and traditional rate making in the bar chart to the right
Summary:
The committee heard testimony on two related issues: gas utilities’ climate compliance plans filed with the Department of Public Utilities and the recent DPU orders reforming the Gas System Enhancement Program (GSEP). Chair Creem and other senators emphasized that Massachusetts must reduce gas use, shrink the gas distribution footprint, and move customers to alternatives such as heat pumps, network geothermal, and non-gas pipeline alternatives (NPAs). DPU Chair Jamie Van Nostrand said the new GSEP orders lower the annual revenue cap from 3.0% to 2.5%, phase it down toward 1.5%, eliminate carrying charges, require more rigorous risk prioritization, and push utilities to consider advanced leak technology, relining, repairs, and NPAs. He also described the climate compliance plans as the start of a longer process covering decommissioning, stranded costs, line extension allowances, integrated energy planning, and targeted electrification demonstrations.
Senators pressed the DPU and utility witnesses on the lack of specificity in the climate compliance plans, especially the absence of numeric goals for gas usage reduction, customer conversions, and near-term deployment of NPAs. Utility representatives from Eversource and National Grid said their plans include NPA frameworks, integrated energy planning, targeted electrification pilots, network geothermal, and workforce transition efforts, but argued that implementation takes time, requires customer participation, and depends on coordination with electric utilities and communities. They said some NPA and electrification projects are being evaluated now, while larger-scale deployment is expected later in the decade. Senators also raised concerns about line extension allowances, with utilities explaining that new customers may be charged based on whether existing ratepayers would otherwise be harmed, while National Grid said it has begun increasing customer contributions to send stronger price signals.
Attorney General Mary Gardner supported the DPU’s GSEP reforms and said the office favors eventually stepping the GSEP cap down to zero by 2030, with repair and replacement costs recovered in base rate cases instead. She argued that the utilities’ plans still rely too heavily on business-as-usual approaches, do not adequately quantify scope 3 emissions, and leave unresolved questions about the obligation to serve and the future of line extension allowances. Advocacy witnesses from the Conservation Law Foundation and Acadia Center were more critical, saying the plans lack the detailed modeling, targets, and transparency needed to show how the utilities will help meet the Commonwealth’s heating and cooling sublimits and broader climate goals. No votes were taken; the hearing consisted of testimony and questioning.
LA
Transcript Highlights:
- the GSA rate, they're actually lower than the GSA rate.
- But this is the in-state rate for Louisiana. That's one.
- They take it up and say, well, what is our per diem rate going to be?
- Each state utilizes either the GSA rate or below.
- They follow the same GSA rate. You want them to stick with these rates here? Yes, sir.
Keywords:
HB 9, HB9, Act 527, Shreveport, Stuffed Shrimp Capital, state symbol, Louisiana symbols, municipal designation, honorary title, cultural designation, tourism, local pride, seafood, shrimp, stuffed shrimp, cuisine, city branding, Louisiana Revised Statutes 49:170.26, court reporter, official court reporter
LA
Louisiana 2026 Regular Session
Senate and Governmental May 20th, 2026
Transcript Highlights:
- GSA rate, they're actually lower than the GSA rate.
- But this is the in-state rate for Louisiana. That's one.
- But this is the in-state rate for Louisiana.
- Each state utilizes either the GSA rate or below.
- They follow the same GSA rate. You want them to stick with these rates here. Yes, sir.
Summary:
The Senate and Governmental Affairs Committee met on May 20, 2026, with a quorum present and no minutes available for approval. The committee first heard HB 181, which would let the legislative auditor review income tax data to verify eligibility for Medicaid and, at LDH’s request, SNAP. The auditor said the work would be limited to internal data testing under sharing agreements and not disclosed to third parties. After questions about privacy and duplication, the bill was reported favorably to the floor without objection.
The committee then took up HB 906 on presidential preference primaries and party nominating petitions. The Secretary of State and bill author said the measure would let major parties decide whether unaffiliated voters may participate in their primaries, with 180 days’ notice to the state, and would keep party rules consistent within presidential years so elections can be programmed properly. Several senators raised concerns that the bill would disenfranchise no-party voters and give parties too much control, but supporters said both major parties had approved the approach. The committee voted 4-3 to report the bill favorably.
Members also advanced HB 398, which would require the judiciary to use the federal GSA meal per diem rate instead of the current higher state judicial rate; HB 1052, which strengthens confidentiality protections for child abuse investigations handled by child advocacy centers and multidisciplinary teams; HB 1245, which protects witness criminal history records from unintended public release in clerk of court records; HB 202, which requires state civil service or hiring agencies to notify applicants when a vacancy is filled or they are rejected; HB 540, which requires disclosure of paid digital election advertising; HB 9, designating stuffed shrimp as a Louisiana specialty; HB 1057, extending the validity of absentee-by-mail applications for military voters from one year to two; HB 225, proposing a constitutional amendment to limit governors to two lifetime terms; HB 177, allowing retired court reporters to contract with former public employers; and HB 459, requiring disclosure when campaign materials use AI, with amendments adopted after discussion of First Amendment and campaign finance concerns. The committee also rejected an amendment to HB 1057 that would have expanded Sunday early voting in certain parishes. After the bills, the committee held confirmation hearings for James Kelly and Charles Wilkinson to the Board of Supervisors of the Louisiana Community and Technical College System, both of whom described education and workforce development backgrounds and were favorably received.
HI
Transcript Highlights:
- <01:25:16.880>
is interest rate if the interest rate is interest rate if the interest rate - <01:31:59.760>
and post-pandemic um inflation rates and post-pandemic um inflation rates and - there'll be no change in interest rates there'll be no change in interest rates um<01:33:12.199>
- rate so in our forecast we have one rate rate so in our forecast we have one rate cut<01:33:41.600
- increase in the tenure in uh bond rate increase in the tenure in uh bond rate it's<01:34:16.199>
MN
Transcript Highlights:
- <00:38:12.400>
you're distribu- distribution rate you're distribu- distribution rate you're - with and exceed the rate of inflation. with and exceed the rate of inflation.
- <00:54:27.480>
In the rate of effective inflation. In the rate of effective inflation. - Interest<00:58:15.720>
rates <00:58:16.440>are Interest rates are Interest rates are the - <01:09:52.279>
of about long-term expected rate of about long-term expected rate of inflation