IFO Releases
Natural Gas Production Report: 2024 Q4
February 25, 2025 | Energy
This document uses data from the Pennsylvania Department of Environmental Protection, the U.S. Energy Information Administration and Natural Gas Intelligence to provide a quarterly update on recent trends in production volume, well counts and average spot prices.
Charging Pennsylvania’s Electric Vehicles
February 24, 2025 | Economics and Other
A new research brief examines Act 85 of 2024, which replaces the alternative fuel tax on electric vehicles with an annual electric vehicle road user charge for battery electric and plug-in hybrid vehicles. It also details the impact of federal funds from the Infrastructure Investment and Jobs Act on Pennsylvania’s EV charging infrastructure.
State and Local Tax Incidence in Pennsylvania
February 19, 2025 | Economics and Other
Director Knittel submitted an article for publication in the February 3, 2025 edition of Tax Notes State. It reviews recent results from the Pennsylvania tax incidence model and discusses factors that make state and local tax systems appear more regressive than they are in practice.
State and Local Tax Revenues: A 50 State Comparison
February 13, 2025 | Economics and Other
This report uses data from the U.S. Census Bureau, the Internal Revenue Service (IRS), the U.S. Bureau of Economic Analysis (BEA) and other sources to facilitate a comparison of state and local tax systems across the 50 states. The report examines (1) state and local effective tax rates across states, (2) the distribution of state and local taxes across revenue sources (e.g., income, sales and property) and (3) state debt levels.
Long-Term Budget Outlook Update
February 11, 2025 | Economics and Other
The IFO updated its baseline deficit projections based on new spending data from the Executive Budget. The revised projections are $3.5 billion (24-25), $6.0 billion (25-26) and $6.9 billion (26-27) under current laws and policies. If the projections hold, then the General Fund surplus would be depleted in 25-26 and the Rainy Day Fund in 26-27.
Economic Forum
February 03, 2025 | Economics and Other
Director Knittel made a brief presentation at the NFIB Economic Forum.
January 2025 Revenue Update
February 03, 2025 | Revenue & Economic Update
The Commonwealth collected $3.92 billion in General Fund revenues for January, an increase of $16 million compared to January 2024.
Pennsylvania Electricity Update
February 03, 2025 | Energy
This report utilizes data from the U.S. Energy Information Administration to display recent trends for the Pennsylvania and regional electricity markets. The report examines recent trends in net generation, net exports, CO2 emissions and prices.