Releases

Economics and Other

IFO Releases

July 2022 Monthly Economic Update

July 25, 2022 | Economics and Other

The July edition of our Monthly Economic Update includes links to recent articles and reports that provide insight into state or national economic, demographic and fiscal trends. 

Tags: economic, monthly, update

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Where Did the Workers Go?

July 13, 2022 | Economics and Other

The IFO published a new research brief that examines the factors that caused the PA labor force to contract by 120,000 workers since the start of the pandemic. Factors identified include long-term demographic trends, care of elderly parents, cyber charter and home schooling, wealth accumulation and the elimination of the income-based phase-out for SNAP benefits that creates a punitive cliff for benefits that are twice the pre-COVID level.

Tags: brief, demographics, labor, research

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Pennsylvania's Gasoline Tax

June 13, 2022 | Economics and Other

The IFO published a research brief that examines the Pennsylvania gasoline tax, which comprises 55% of Motor License Fund revenues. Although Pennsylvania levies the highest gasoline tax rate in the nation, the analysis finds that collections have not kept pace with the rising cost of road construction. This outcome is largely the result of the tax structure, which is tied to the average wholesale price of fuel and has not increased since 2018. For FY 2021-22, the IFO estimates that the annual gasoline tax burden per licensed Pennsylvania driver is $285.

Tags: brief, gasoline, research, tax

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Inflation's Impact on the Pennsylvania Economy

June 07, 2022 | Economics and Other

On June 8, Director Matthew Knittel will make a brief presentation to the House Majority Policy Committee on the impact of inflation on the state economy and budget.

Tags: economy, inflation, pennsylvania

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PA Residents Migrating to Southern States

June 02, 2022 | Economics and Other

The IFO posted a research brief that uses recent IRS tax data to track migration between states for 2019 and 2020. The IRS data show large net inflows from most border states and net outflows to southern states, most notably Florida. Net outflows were much heavier for residents age 55 and older.

Tags: brief, migration, research

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BUDGET AND ECONOMIC UPDATE PRESENTATION

March 31, 2022 | Economics and Other

Deputy Director Brenda Warburton and Revenue Analyst II Jesse Bushman gave a presentation to the Marcellus Shale Coalition regarding the Commonwealth’s economic and budget outlook and recent natural gas trends.

Tags: gas, marcellus, natural, presentation, shale

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Assumptions Used by RGGI Model

March 28, 2022 | Economics and Other

Director Matthew Knittel provided brief testimony on the model assumptions used by a consultant to estimate the impact on Pennsylvania from joining RGGI.

Tags: rggi, testimony

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Senate Budget Hearing Request

March 21, 2022 | Economics and Other

The Independent Fiscal Office (IFO) responded to two questions raised at the office’s budget hearing before the Senate Appropriations Committee. The questions relate to an update of the IFO’s five-year projections for revenues and expenditures that incorporates the proposed initiatives in the Governor’s Executive Budget and an estimate of school district property taxes paid by seniors.

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House Budget Hearing Request

March 21, 2022 | Economics and Other

The IFO responded to a question raised at the office’s budget hearing before the House Appropriations Committee. The question relates to the impact of the COVID-19 pandemic on employment by race.

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Corporate Net Income Tax Proposals

March 15, 2022 | Economics and Other

The IFO responded to a request from Appropriations Committee Chairman Saylor for a dynamic revenue estimate of three corporate net income tax proposals.

Tags: corporate, income, legislative, net, request

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