Search Results

Your search for news returned 366 results.
February 2021 Economic Update

The February 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, news

January 2021 Economic Update

The January 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, news

December 2020 Economic Update

The December 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, news

November 2020 Economic Update

The November 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, news

October 2020 Economic Update

The October 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, news

September 2020 Economic Update

The September 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, news

August 2020 Economic Update

The August 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, news

July 2020 Economic Update

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, news

June 2020 Economic Update

The June 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, news

May 2020 Economic Update

The May 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, news

April 2020 Economic Update

The April 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, news

IFO News Stand - March Edition

The March edition of our monthly newsletter - The IFO News Stand. The release includes links to recent articles and reports that provide insight into state or national economic, demographic and fiscal trends. 

Tags: economic, news

IFO News Stand - February Edition

The February edition of our monthly newsletter - The IFO News Stand. The release includes links to recent articles and reports that provide insight into state or national economic, demographic and fiscal trends.

Tags: economic, news

IFO news Stand - March Edition

The March edition of our monthly newsletter - The IFO news Stand. The release includes links to recent articles and reports that provide insight into state or national economic, demographic and fiscal trends. 

03/25/2020

IFO news Stand - February Edition

The February edition of our monthly newsletter - The IFO news Stand. The release includes links to recent articles and reports that provide insight into state or national economic, demographic and fiscal trends.

02/20/2020

IFO news Stand - January Edition

The January edition of our monthly newsletter - The IFO news Stand. The release includes links to recent articles and reports that provide insight into state or national economic, demographic and fiscal trends.

01/15/2020

IFO news Stand - December Edition

The December edition of our monthly newsletter - The IFO news Stand. The release includes links to recent articles and reports that provide insight into state or national economic, demographic and fiscal trends.

12/20/2019

IFO news Stand-October Edition

The October edition of our monthly newsletter - The IFO news Stand. The release includes links to recent articles and reports that provide insight into state or national economic, demographic and fiscal trends. 

10/24/2019

IFO news STAND - SEPTEMBER EDITION

The September edition of our monthly newsletter - The IFO news Stand. The release includes links to recent articles and reports that provide insight into state or national economic, demographic and fiscal trends. 

09/25/2019

IFO news Stand - August Edition

The August edition of our monthly newsletter - The IFO news Stand. The new release highlights links to recent articles and reports that provide insight into state or national economic, demographic, budget and tax revenue trends. 

08/28/2019

IFO news Stand - July Edition

The July edition of our monthly newsletter - The IFO news Stand. The new release highlights links to recent articles and reports that provide insight into state or national economic, demographic, budget and tax revenue trends.

07/18/2019

IFO news Stand - June Edition

The June edition of our monthly newsletter - The IFO news Stand. The new release highlights links to recent articles and reports that provide insight into state or national economic, demographic, budget and tax revenue trends.

06/20/2019

IFO news Stand - May Edition

The May edition of our monthly newsletter - The IFO news Stand. The new release highlights links to recent articles and reports that provide insight into state or national economic, demographic, budget and tax revenue trends.

05/22/2019

IFO news Stand - April Edition

The April edition of our monthly newsletter - The IFO news Stand. The new release highlights links to recent articles and reports that provide insight into state or national economic, demographic, budget and tax revenue trends.

04/22/2019

IFO news Stand - March Edition

The March edition of our monthly newsletter - The IFO news Stand. The new release highlights links to recent articles and reports that provide insight into state or national economic, demographic, budget and tax revenue trends.

03/19/2019

IFO news STAND - DECEMBER EDITION

The December edition of our monthly newsletter - The IFO news Stand. The new release highlights links to recent articles and reports that provide insight into state or national economic, demographic, budget and tax revenue trends.

12/11/2018

IFO news Stand - November Edition

The November edition of our monthly newsletter - The IFO news Stand. The new release highlights links to recent articles and reports that provide insight into state or national economic, demographic, budget and tax revenue trends.

11/20/2018

IFO news Stand - October Edition

The October edition of our monthly newsletter - The IFO news Stand. The new release highlights links to recent articles and reports that provide insight into state or national economic, demographic, budget and tax revenue trends.

10/17/2018

IFO news Stand - August Edition

The August edition of our monthly newsletter - The IFO news Stand. The new release highlights links to recent articles and reports that provide insight into state or national economic, demographic, budget and tax revenue trends.

08/20/2018

IFO news Stand - July Edition

The July edition of our monthly newsletter – The IFO news Stand. The new release highlights links to recent articles and reports that provide insight into state or national economic, demographic, budget and tax revenue trends.

07/24/2018

IFO news Stand - June Edition

The June edition of our monthly newsletter – The IFO news Stand. The new release highlights links to recent articles and reports that provide insight into state or national economic, demographic, budget and tax revenue trends.

06/19/2018

IFO news Stand - May Edition

The May edition of our monthly newsletter – The IFO news Stand. The new release provides links to recent articles and reports that provide insight into state or national economic, demographic, budget and tax revenue trends.

05/16/2018

IFO news Stand - April Edition

The first edition of our monthly newsletter – The IFO news Stand. The new release provides links to recent articles and reports that provide insight into state or national economic, demographic, budget and tax revenue trends.

04/20/2018

ACN_SB1_A01354_A01558_2017_06_03a.pdf

Group, actu- ary for the State Employees’ Retirement System (SERS). The proposal amends the retirement codes to (1) require most new employees to select one of three new plan design options and (2) make actuarial funding changes applicable to SERS. The plan de- sign options include two hybrid

Hits: 261

2013_special_report_funding_and_reforming_public_employee_retirement_systems.pdf

budgetary realities. II.HISTORY OF THE CRISIS After a decade of extraordinary investment gains, the financial markets spoke of the “new paradigm:” an anticipation that double-digit growth would continue indefinitely. This was the argument that supported the benefit improvements of whereby persons returning from a break in service are granted the higher of the benefit available under prior service or new service. For example, a State employee who worked for ten years in the 1980s (accruing 2% per year of service

Hits: 223

2007_divestment_complete_report.pdf

Legislation (H. R. 2347 and H. R. 180) – Appendix XII . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 407 “Governor Rendell Helps Break Ground on Westinghouse Nuclear Headquarters” News Release: August 14, 2007 – Appendix XIII . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 411 Pennsylvania Employment Impact – Appendix XIV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 415 “Should Public Plans Engage in Social Investing achieve certain societal goals that are deemed to be beneficial. The concept of socially responsible or ethical investing is not new. In fact, the history of what could be described as “socially responsible” or “ethical” investing spans many centuries. Religious investors

Hits: 97

Revenue-Proposal-Analysis-2020-04.pdf

Revenue Proposals The 2020-21 Executive Budget proposes (1) changes to the corporate net income tax (CNIT), (2) new transfers from the personal income tax (PIT), sales and use tax (SUT) and cigarette tax to various funds and (3) a modification for businesses that meet unitary group standards. The most recent states to enact combined reporting were Kentucky and New Jersey (both in 2018) and New Mexico (2019). The remaining 17 states that levy a CNIT require separate 2 However, Iowa allows

Hits: 74

RB-2017-5.pdf

the same average tax rate regardless of income. Some states impose highly-progressive personal income taxes (e.g., California and New York) compared to other states. The allowance of a personal exemption or standard deduction can make an income tax more Montana 1.00% 6.90% 6.90% 6.90% Both Nebraska 2.46% 6.84% 6.84% 6.84% Both New Hampshire 5.00% 5.00% 5.00% 5.00% Exemption New Jersey 1.40% 3.50% 8.97% 3.50%

Hits: 69

State_Tax_Comparison_2020_11.pdf

rates levied for CY 2020.) Table 1 Personal Income Tax State Rank Amount Ratio State Rank Amount Ratio New York 1 $68,095 5.10% Missouri 26 $7,005 2.47% Oregon 2 $9,847 4.50% Rhode Island 27 $1 Virginia 12 $14,872 3.07% Louisiana 37 $3,833 1.84% Wisconsin 13 $8,760 2.95% New Mexico 38 $1,590 1.81% West Virginia 14 $2,097 2.88% Mississippi 39 $1,968 1.78% North Carolina 15

Hits: 63

State-Tax-Comparison-2020-01.pdf

rates levied for CY 2019.) Table 1 Personal Income Tax State Rank Amount Ratio State Rank Amount Ratio New York 1 $64,479 4.99% Vermont 26 $819 2.50% Oregon 2 $8,880 4.34% Kansas 27 $3,415 2 13 $8,151 2.90% Louisiana 38 $3,246 1.63% West Virginia 14 $1,951 2.81% New Mexico 39 $1,253 1.49% North Carolina 15 $12,610 2.79% Arizona 40 $4,545 1.48% Iowa 16 $4

Hits: 63

SR2017-03.pdf

state tax rates levied for CY 2017.) Table 1 Personal Income Tax State Rank Amount Ratio State Rank Amount Ratio New York 1 $54,057 4.82% Arkansas 26 $2,664 2.44% Oregon 2 $7,309 4.33% Indiana 27 94% West Virginia 10 $1,932 2.94% Oklahoma 35 $3,252 1.89% Utah 11 $3,158 2.91% New Mexico 36 $1,381 1.80% North Carolina 12 $11,198 2.90% Mississippi 37 $1,783 1.77% Virginia

Hits: 62

Single-Use Plastics Report-2020_06.pdf

203 $93 $203 HWPB $18 $112 $27 $41 Reusable $14 $16 $22 $23 Total $272 $331 $181 $266 New Trash Bin Liners -- $13 $9 $20 Change in Consumer Costs $72 -$82 $14 Per Capita Cost $21.30 $26.90 $14.90 analysis to consider a ban on expanded polystyrene (EPS) foam foodservice products. Four states (Maryland, Vermont, Maine and New York) recently enacted bans on these products. The report finds that a ban would reduce employment by nearly 1,800 jobs, reduce

Hits: 55

Revenue-Proposal-Analysis-2019-03.pdf

3 Tax and Revenue Proposals The 2019-20 Executive Budget proposes changes to the corporate net income tax, new transfers from the personal income tax and the sales and use tax to various funds and an expansion of the Resource Enhance- Office (March 2013) http://www.ifo.state.pa.us./Releases.cfm. 3 The CR states include Connecticut, Massachusetts, New York, Rhode Island, Vermont and Wisconsin. Kentucky and New Jersey implemented combined reporting for 2019 but were excluded from the analysis because

Hits: 53

TC_2019_New_Jobs_Tax_Credit_Report.pdf

This report contains the tax credit review for the Job Creation Tax Credit (JCTC), formally known as the New Jobs Tax Credit. The IFO reviewed numerous studies on state JCTCs, held discussions with various stakeholders and met with agency staff who General Findings and Recommendations Enacted in July 1996, the Job Creation Tax Credit (JCTC, formally known as the New Jobs Tax Credit) provides tax credits to firms that create Pennsylvania jobs within three years of a designated start date. 1 Credits

Hits: 51

PBB_2020_DCED_REPORT.pdf

framework. Under incremental budgeting, policymakers use funding levels from the prior year and base funding decisions on any new demands placed upon an agency. For most agencies, performance metrics are not part of that process. A PBB approach considers performance metrics its focus to actual jobs created and engage with the Department of Labor and Industry to verify all new employment at firms that receive economic development incentives. Currently, the department requires payroll compliance reports for only one in ten projects on

Hits: 45

State and Local Tax Burden Study.pdf

in all other taxes and 17 th in total tax. Relative to neighboring states, Pennsylvania ranks lower than New York, New Jersey, Ohio, Delaware and West Virginia, but higher than Maryland. Table 5 displays the share of total revenue collections for each state

Hits: 42

2002_dbdc_report.pdf

plans for one of the following reasons: to roll the money into an IRA, to transfer the money into their new employer plan, or to take the money in cash. Another one million employees eligible for a payment decide to leave Assets in Current Pension Plan 25% 22% Take a Cash Payment 28% 16% Take Installment Payments 1% 21% Transfer to New Employer’s Pension Plan 8% < than 1% DISTRIBUTION PAYMENT AMOUNTS Payment Amount % of Job Changers % of Retirees $250,000 or

Hits: 39

TC_2019_Film_Production_Tax_Credit_Report.pdf

imported. While advocates note that tax credits can leverage up to four to five times that amount in new spending, critics believe the tax credit does little to promote economic growth because a large portion of the subsidized expenses flow out findings of this report are as follows:  Three states dominate film and television productions: California, Georgia and New York. For the latest year, those states spent between $330 million (CA) to $533 million (GA) on film tax credits.  Unless

Hits: 35

Budget_Hearing_Background_Feb2016.pdf

address funding shortfalls. For example, the unexpectedly large revenue gain from reducing the escheats holding period generated $380 million in new revenues last fiscal year, and contributed to a carryforward balance of $266 million that could be applied against the projected average price of natural gas for calendar year 2015 declined by 55.0% (Dominion South hub). A modest amount of new pipeline capacity became operational in calendar year 2015. 15 Impact Fee Update. The IFO projects $185.5 million impact fee

Hits: 35

Five_Year_Outlook_2019.pdf

of 3.2 percent per annum. The underlying rate increases to 3.4 percent per annum if a new sales and use tax transfer that begins in FY 2022-23 is excluded. The forecast assumes that the Pennsyl- vania economy operates until FY 2022-23. For that year, the projected deficit grows by nearly $400 million due to a new sales tax transfer. If the new sales tax transfer did not occur, then the fiscal imbalance would contract in all years after

Hits: 33

Response-Letter-09-12-2019-Part-2.pdf

homeowners. 1 Your updated request specified certain parameters of the proposal that are relevant to the estimates:  Establish a new base rebate of $175 for all senior homeowners with household incomes between $35,000 and $50,000.  Expand the Based on these parameters, the analysis finds the following results for increasing the supplemental rebate to $1,500:  The new base rebate for household incomes between $35,000 and $50,000 would result in 68,600 new rebates ($12.0

Hits: 32

Independent Fiscal Office

Fiscal Office Revenue Estimates Revenue & Economic Update Performance Budgeting Natural Gas Pension Analysis Property Tax Wage Contracts Tax Credit Review News Stand & Other Featured Releases School Property Tax and Act 1 Index Property Tax February 25, 2021 Director Matt Knittel made of school district property taxes attributable to homestead property. (This report was originally posted on February 2, 2021. Based on new data for the 2020 Q4 ECI, which impacts the FY 2020-21 ECI computation, this report was updated and reposted

Hits: 31

TC_2020_Mobile Telecommunications Broadband Investment Tax Credit.pdf

requirements. The impact of these broadband incentives can be measured in two parts: (1) the impact of the new or expanded service on the affected population and (2) the impact of the direct capital investment on the state economy. This analysis lower return on the capital investment. Therefore, the lack of requirements on the placement and quality of the new MTBI qualifying infrastructure likely results in the placement of equipment in areas that already have one or more high-speed broadband options

Hits: 30

TC_2020_Research and Development Tax Credit.pdf

of the RDTC as follows: Goals  Provide incentives to increase R&D spending in Pennsylvania.  Attract new research and development firms to the Commonwealth.  Support the growth and expansion of R&D intensive sectors.  Promote technology clusters average wages.  Increase entrepreneurial activity as evidenced by the number of small, start-up firms that bring new products or services to market. Administration The Pennsylvania DOR administers the RDTC and reviews applications. Applicants must submit RDTC ap- plications electronically

Hits: 28

SUT Exemption for Aircraft - January 2013.pdf

to newly exempt the following goods and services from SUT:  The sale at retail or use of new or used fixed-wing aircraft.  The sale at retail or use of machinery, equipment, plating, upholstery, other physical components and software was limited to private aircraft with fractional share ownership. Currently, Ohio does not have a fly-away exemption. New York Sales of private aircraft in New York are generally subject to sales tax (4 percent). 6 However, sales of commercial aircraft

Hits: 28

Economic_and_Revenue_Update_2020.pdf

hearings. We trust they will be helpful as you consider the FY 2020-21 budget proposal. For the upcoming year, new statutory duties related to performance-based budgeting (PBB) and tax credit reviews will engage much of the office’s resources Court Judges’ Commission (January 2019) Tax Credit Reviews Film Production Tax Credit (January 2019) Historic Preservation Tax Credit (January 2019) New Jobs Tax Credit (January 2019) Wage Contracts UFCW Wage Contract Analysis (August 2019) ISSU Wage Contract Analysis (September 2019) Management

Hits: 28

TC_2019_Historic_Preservation_Tax_Credit_Report.pdf

current credit is transferable. It should also be made refundable.  Applications should include a fee to offset new and existing program costs.  If the credit is extended and increased, PHMC or DCED should track specific performance metrics for the enforcement and compliance efforts related to the HPTC can be found in the Appendix. 12 Costs attributable to new construction that do not qualify as QRE include new additions, parking facilities, driveways or sidewalks, fencing, landscaping, environmental remediation, sewer and water

Hits: 27

2006_surviving_spouse_healthcare_study.pdf

on July 1, 2005, and was replaced by what is now referred to as majority State-paid healthcare. Under this new program, the Commonwealth continues to pay the majority of health coverage costs for retirees who meet the current age and enactment of Act 35 of 1991. Section 8 of Act 35 amended the Administrative Code of 1929 by adding a new Section 529, entitled “Medical Insurance Coverage for Survivor Spouses of Annuitants,” which permitted the spouses of retirees who died subsequent

Hits: 27

RB 2019 RACP.pdf

housing facilities, sport facility expansions, or targeted industry grants to union halls and similar organizations. Public infrastructure upgrades to accommodate new private business ventures are also included in this category. 2. Educational Facility Projects that occur at educational facilities such as Commonwealth. Therefore, the same project in two local units could have a significantly different economic impact depending on whether the new spending remains local (or leaks out), the geographic location of supply chains and workers, and the populations that will benefit

Hits: 26

Revenue-Proposal-Analysis-2018-04.pdf

and Revenue Proposals The 2018-19 Executive Budget proposes changes to the corporate net income tax and a new tax levy on the severance of natural gas. By fiscal year (FY) 2022-23, the analysis projects that the proposals would increase General Fund tax revenues by $305 million. New revenues peak in FY 2019-20, but then begin to decline due to the phase-in of a corporate net income tax

Hits: 25

Memo-2019-03-Income-and-Property-Tax-Burden-for-Retirees.pdf

4,070 same as federal Nebraska fully taxable fully taxable same as federal Nevada n.a. n.a. n.a. New Hampshire n.a. n.a. n.a. New Jersey $30,000/$60,000 $30,000/$60,000 exempt New Mexico depends on income depends on income depends on

Hits: 25

Pensions

Printer's Number 902 ). Signed into law on June 12, 2017, Act 5 amends Titles 24 and 71 to provide new members of PSERS and SERS with three retirement benefit options. The new plan designs would be applicable to most public employees hired by school or state employers beginning July 1, 2019 (PSERS

Hits: 25

IFO_Hearing_Packet_Feb2018.pdf

will be helpful as you consider the fiscal year 2018-19 budget proposal. For the upcoming year, the fulfillment of new statutory duties related to performance-based budgeting (PBB) and tax credit reviews will engage much of the office’s resources Net Domestic Migration Trends Net Domestic Migrants (000s) 2015-17 Share of Top Outlfow 2015 2016 2017 Average Residents 1 New York -168.6 -193.0 -190.5 -184.0 -0.93% 2 California -80.9 -122.1 -138.2 -113

Hits: 23

ACN_SB1071_A10803_text.pdf

by the board in accordance with generally accepted actuarial principles, as a level percentage of the compensation of [the average new active member] all active members, which percentage, if contributed from the start of their employment on the basis of [his of the General Assembly after the expiration of their respective legislative terms or until a successor is appointed for the new term, whichever occurs first. The chairman of the board shall be elected by the board members. Each ex officio member

Hits: 23

PBB_2019_Criminal_Justice_Report.pdf

Under incremental budgeting, policymakers use fund- ing levels from the prior year and base funding decisions on any new demands placed upon the agency. For most agencies, performance metrics are not part of that process. A PBB approach emphasizes perfor- mance round PBB plans, this review used metrics that were readily available because limited time was available to develop new metrics, and a PBB framework had to be developed that could solicit data from agencies in an efficient manner. Therefore, many of

Hits: 21

Economic_and_Revenue_Update_2021.pdf

release. Independent Fiscal Office 9 February 2021 Net Domestic Migration Trends Top Outflow 2011-13 2014-16 2017-19 1 New York -100.5 -168.4 -183.3 -0.9% 2 California -48.9 -82.9 -165.4 -0.4 3 Illinois -67.8 -105.3 -111.1 -0.9 4 New Jersey -44.9 -63.7 -52.2 -0.6 5 Massachusetts -5.4 -21.2 -27.5 -0.4 6

Hits: 20

Senate Appropriations Response Letter 3-6-2020.pdf

Survey of Mortgage Originations for loans originated from January 2013 through December 2016. 1 For borrowers who refinanced and their new mortgage amount was higher than the closed loan, the extra funds were used for the following purposes:  Pay off other bills or debts (40 percent)  Home repairs or new construction (31 percent)  Savings (14 percent)  Auto or other major purchases (9 percent)  College expenses (7 percent

Hits: 19

Response-Letter-09-12-2019.pdf

of tax burden. Your letter specified certain parameters of the proposal that are relevant to the estimates:  Establish a new base rebate of $175 for all senior homeowners with household incomes between $35,000 and $50,000.  Expand the Total rebates may not exceed property tax paid. Based on these parameters, the analysis finds the following results:  The new base rebate for household incomes between $35,000 and $50,000 would result in 61,000 new rebates ($10.7

Hits: 19

PBB_2020_DEP_Report.pdf

framework. Under incremental budgeting, policymakers use funding levels from the prior year and base funding decisions on any new demands placed upon an agency. For most agencies, performance metrics are not part of that process. A PBB approach considers performance metrics permit and inspection costs have increased in other activities, potentially due to the need to train current and new employees during the transition to electronic platforms. Policymakers should continue to monitor produc- tivity metrics to ensure that further efficiencies and cost

Hits: 19

PBB_2020_DHS_REPORT_Final_Updated.pdf

framework. Under incremental budgeting, policymakers use funding levels from the prior year and base funding decisions on any new demands placed upon an agency. For most agencies, performance metrics are not part of that process. A PBB approach considers performance metrics Online 1 Rank (39 states) 1 Allows Scan and Upload Documents Online 2 Account Access on Mobile App. New York 95% 1 Yes No Delaware 64% 11 No No New Jersey 51% 20 No No West Virginia 48% 21 No No

Hits: 18

PBB_2019_DGS_Report.pdf

Under incremental budgeting, policymakers use fund- ing levels from the prior year and base funding decisions on any new demands placed upon the agency. For most agencies, performance metrics are not part of that process. A PBB approach emphasizes perfor- mance round PBB plans, this review used metrics that were readily available because limited time was available to develop new metrics, and a PBB framework had to be developed that could solicit data from agencies in an efficient manner. Therefore, many of

Hits: 18

Impact-Fee-Update-2017-Outlook-2017-07.pdf

fee schedule and actual collections by operating year. The primary reasons for the decline in collections are as follows:  New wells insuf Ðicient to offset aging of wells. The impact fee is highest in a well’s Ðirst operating year, and declines as the well ages. (See Table 2.) Revenue from the 504 new wells spud did not offset reduced collections from older wells as their fees decline. Net impact: ‐$7.8 million. 

Hits: 18

IFO_Hearing_Packet_Feb2019.pdf

We trust they will be helpful as you consider the fiscal year 2019-20 budget proposal. For the upcoming year, new statutory duties related to performance-based budgeting (PBB) and tax credit reviews will engage much of the office’s resources Assistance Program Tax Credit (April 2018) Film Production Tax Credit Review (January 2019) Historic Preservation Tax Credit Review (January 2019) New Jobs Tax Credit Review (January 2019) • Wage Contracts ALES Wage Contract Analysis (February 2018) UGSOA Wage Contract Analysis (March 2018

Hits: 18

Revenue-Estimate-2019-05.pdf

Statistics. The trends reveal the recent mod- eration in the Pennsylvania labor market as the pace of net new jobs creation fell from 69,600 (annualized rate) in 2018 Q1 to 50,800 (preliminary) in 2019 Q1. The data also show 2.9% 2.7% 2.1% Wages-Salaries 2.9% 4.6% 4.5% 4.5% 4.7% New Payroll Jobs (000s) 2,522 2,263 2,454 2,369 1,804 U.S. CPI-U 1.3% 2.1% 2

Hits: 17

PBB_2020_DOH_REPORT_Final_Update.pdf

framework. Under incremental budgeting, policymakers use funding levels from the prior year and base funding decisions on any new demands placed upon an agency. For most agencies, performance metrics are not part of that process. A PBB approach considers performance metrics are also evident in urban areas and among racial and ethnic groups. While Pennsylvania’s overall rate of new diagnosis for HIV infection is lower than the national average, Philadelphia ranked 41 out of 108 large metropolitan statistical areas in terms

Hits: 17

Official-Revenue-Estimate-2019-06.pdf

Statistics. The trends reveal the recent mod- eration in the Pennsylvania labor market as the pace of net new jobs creation fell from 69,600 (annualized rate) in 2018 Q1 to 50,800 (preliminary) in 2019 Q1. The data also show 2.9% 2.7% 2.1% Wages-Salaries 2.9% 4.6% 4.5% 4.5% 4.7% New Payroll Jobs (000s) 2,522 2,263 2,454 2,369 1,804 U.S. CPI-U 1.3% 2.1% 2

Hits: 17

PBB_2020_DOS_REPORT.pdf

framework. Under incremental budgeting, policymakers use funding levels from the prior year and base funding decisions on any new demands placed upon an agency. For most agencies, performance metrics are not part of that process. A PBB approach considers performance metrics general activities. Highlights of recent agency activity include:  For the November 2018 election, DOS processed 196,174 new voter registrations and 5.1 million votes cast.  In 2018, DOS processed 112,232 new business licenses and maintained a file

Hits: 16

Impact-Fee-Update-2018-Outlook-2018-06.pdf

as follows:  Fee Increase. The fee schedule is based on the average annual price of natural gas on the New York Mercantile Exchange (NYMEX). When this price crosses certain statutorily-set thresholds, the fee schedule will increase or decrease accordingly was $5,400 more than the same type of well in 2016. Net impact: +$36.7 million.  Collections from New Wells. The collections from wells in operating year one more than offset decreased collections from older wells as their fees

Hits: 16

CNIT-Rate-Cut-2018-04.pdf

rate (e.g., sales-only factor apportionment). Three states attempted to broaden their state tax base through mandatory combined reporting (New Mexico, Connecticut and Rhode Island). For 2018 to 2023, four states are scheduled to reduce their tax rates: Connecticut, New Hampshire, Indiana and North Carolina. 1 Due to deductibility, the ETR is lower for all states by the same proportion

Hits: 16

Budget Hearings Packet.pdf

2016 budget hearings, the IFO has made progress on a duty specified in its original authorizing legislation and undertaken two new statutory duties. First, the IFO published a report that outlined options for outcome-based performance measurement of executive agencies and the employer contribution rate. 18 Natural Gas Outlook Production continues to expand despite the collapse of gas prices and less new drilling. 19 A recent price spike closes the gap between local hub spot prices and the Henry Hub. 20 (3

Hits: 16

Budget Hearings Packet- Web Version.pdf

2016 budget hearings, the IFO has made progress on a duty specified in its original authorizing legislation and undertaken two new statutory duties. First, the IFO published a report that outlined options for outcome-based performance measurement of executive agencies and the employer contribution rate. 18 Natural Gas Outlook Production continues to expand despite the collapse of gas prices and less new drilling. 19 A recent price spike closes the gap between local hub spot prices and the Henry Hub. 20 (3

Hits: 16

2004_srpvffinal.pdf

retirement system that may aid in the retention of current volunteer firefighters and which provides incentives for the recruitment of new volunteers; and 1 The Volunteer Fire Service in the Commonwealth of Pennsylvania, A Funding Study, Pennsylvania Fire and Emergency Services The plans selected for study are located in the following states: Arizona, Arkansas, California, Colorado, Delaware, Georgia, Minnesota, Montana, Nevada, New Hampshire, New Mexico, New York, Texas, Washington and Wyoming. The Commission staff conducted a telephone survey, interviewing plan administrators, legal

Hits: 16

Impact-Fee-Update-Outlook-2020.pdf

the decrease in collections are as follows:  Lower Fee Schedule. The average annual price of natural gas on the New York Mercantile Exchange (NYMEX) for CY 2019 was $2.63 per MMBtu. Due to the price dropping below $3.00 fee schedule decreased by $5,000 per horizontal well compared to CY 2018 levels. Estimated impact: -$47.4 million.  New and Existing Wells. The net impact of fees from new wells offsetting lost collections from aging wells that pay lower

Hits: 15

Impact-Fee-Update-Outlook-2019-06.pdf

fee schedule and actual collections by operating year. The primary reasons for the increase in collections are as follows:  New and Existing Wells. The collections from wells in operating year one more than offset decreased collections from older wells as They include:  Statutory fee schedule. The schedule is based on the average annual price of natural gas on the New York Mercantile Exchange (NYMEX), which is based on the Henry Hub. 6 If that price reverts back to a level

Hits: 15

Demographics_Outlook_2020.pdf

Why the Birth Rate is So Low in the United States.” Healthline Parenthood. https://www.healthline.com/ health-news/why-does-the-u-s-have-such-a-low-birth-rate. Figure 3.1 Pennsylvania Number of Births (000s) by Maternal Age 4 distributes net migration from border states to individual states. In 2018, Pennsylvania had positive net migration from New York, New Jersey and Maryland. 7 U.S. Centers for Disease Control and Prevention. National Center for Health Statistics. “Stats of the

Hits: 15

TC_2020_Keystone_Innovation_Zone_Tax_Credit.pdf

from 2014 to 2018. It is noted that these are net rates of business for- mation, and reflect new employer firms and the attrition of existing firms. For Pennsylvania, the annual average growth rate for number of firms in the three the United States. However, the Pennsylvania average rate for software publishers (24.8 percent) is second only to New York (30.6 percent) and significantly higher than the United States average (17.9 percent). It is noted that the impact of

Hits: 14

Pitt_Chamber_Presentation.pdf

Pennsylvania effective tax rate from 6.5% to 7.9% (see table) Sales and use tax  How quickly does new consumer spending occur?  Increases revenues by $60 to $80 million in FY 2018-19 Personal income tax  Higher  Computation with and without severance tax 4 State Corporate Net Income Tax Rates - 2018 Tax Rate Rank Old ETR New ETR Diff w/ PA Iowa 12.00% 1 7.80% 9.48% 1.59% Pennsylvania 9.99% 2 6.49%

Hits: 14

IFO - Economic and Budget Outlook - January 2012.pdf

their impact, it is useful to provide both historical and relative context. Historical context helps readers determine if trends are new or whether a particular series simply reverts to some historical norm. For example, it is known that personal income tax non-residential investment (-18.5 percent, $287 billion). Although recent data show that real investment spending has partially recovered, most new investment merely replaces worn out capital rather than expand operations. For 2009, the nation’s capital stock actually contracted as

Hits: 14

2013-07 Monthly Economic Summary.pdf

pa.us Sources: 1/ U.S. Bureau of Economic Analysis. 2/ Federal Housing Finance Agency. 3/ Fed. Res. Bank of New York. Monthly Economic Report J u l y 2 0 1 3 2012.3 2012.4 2013.1 2013.2 2004, the Pennsylvania General Assembly approved the Pennsylvania Race Horse Development and Gaming Act. Since that time, Pennsylvania has overtaken New Jersey in gross casino revenue and leads all other states in the Mid- Atlantic region. In 2012, Pennsylvania casinos generated

Hits: 14

2000_cost_of_living_adjustments.pdf

RESULTS - 26 - METHOD OF METHOD OF METHOD OF STATE SYSTEM IMPLEMENTATION DETERMINATION FUNDING Nevada Combined Automatic Formula/CPI Direct/Advance New Hampshire Combined Ad-Hoc Formula/CPI Indirect/Act. Gains New Jersey Combined Automatic Formula/CPI Direct/Advance New Mexico Government Automatic Fixed Direct/Advance New Mexico Teacher Automatic Formula/CPI

Hits: 14

RB-2016-02.pdf

100 $10,100 Allows a $1,000‐per‐job tax credit available to an em‐ ployer creating at least 25 new full‐time equivalent jobs or increasing their workforce by at least 20 percent. Keystone Innovation Zone $15,100 $17,100 Promoting Employment Across Pennsylvania Program $0 $0 Permits companies to retain 95 percent of Pennsylvania personal income tax withheld from new employees. To qualify, a company must create 250 new jobs within Ðive years. The new jobs must provide health insurance

Hits: 13

PBB_2019_DOBS_Report.pdf

Under incremental budgeting, policymakers use fund- ing levels from the prior year and base funding decisions on any new demands placed upon the agency. For most agencies, performance metrics are not part of that process. A PBB approach emphasizes perfor- mance round PBB plans, this review used metrics that were readily available because limited time was available to develop new metrics, and a PBB framework had to be developed that could solicit data from agencies in an efficient manner. Therefore, many of

Hits: 13

Five_Year_Outlook_2020.pdf

then declines to $2.0 billion by FY 2025-26. The deficit peaks in FY 2022-23 due to a new, permanent transfer from sales and use tax revenues ($469 million) that begins that year. Fiscal Year 19-20 20-21 per week.  Federal UC programs, including PUA, will end by early April. After the week ending March 13, no new claims for these programs will be accepted. State UC payments represent the entire calendar year, and exclude typical state UC

Hits: 13

Revenue-Estimate-2020-05.pdf

among others) that informed the determination of a partial reopening was whether a county recorded fewer than 50 new confirmed cases per 100,000 residents over a 14-day period. Under partial reopening, telework must con- tinue where feasible, childcare may that would trigger the reinstatement of statewide business closures.  Schools and colleges reopen in the fall, although new social distancing conventions may be imple- mented. Federal and State Programs and Provisions In response to the pandemic, recent legislation injects a

Hits: 12

platt ppt.pdf

gov Impact of Recession & Recovery on Wages by State 10 -5.4 -2.9 -20 -15 -10 -5 0 Nevada New York Michigan Arizona Wyoming Missouri Florida Indiana Connecticut Idaho Tennessee Illinois Oregon Georgia California Minnesota Ohio Delaware New Jersey Rhode Island North Carolina Wisconsin Massachusetts U.S. Totals New Hampshire South Carolina Oklahoma Colorado Utah Alabama Arkansas Maine

Hits: 12

PBB_2020_PEMA_REPORT.pdf

framework. Under incremental budgeting, policymakers use funding levels from the prior year and base funding decisions on any new demands placed upon an agency. For most agencies, performance metrics are not part of that process. A PBB approach considers performance metrics methods vary across the Commonwealth. PEMA, in conjunction with the counties, is in the process of implementing a new NG911 system that will standardize 911 data collection methods. The NG911 statewide and regional system-sharing solutions and interconnected infrastructure will support

Hits: 12

Official-Revenue-Estimate-2020-06.pdf

that would trigger the reinstatement of statewide business closures.  Schools and colleges reopen in the fall, although new social distancing conventions may be imple- mented. Federal and State Programs and Provisions In response to the pandemic, recent legislation injects a by mitigation efforts. Table 1.3 provides estimates of the funds that will flow into Pennsylvania due to new and expanded federal programs, tax cuts and delays, and state UC payments attributable to COVID-19. These programs and provisions play a

Hits: 11

NGPR-2020-Q1.pdf

from the U.S. Energy Information Administration (EIA) and (2) recent regional price trends from Bentek Energy. Production Volume and New Wells Spud Recent data from DEP show that natural gas production volume from horizontal wells was 1,766 billion cubic a persistently low-price environment for natural gas and (2) early impacts of the COVID-19 pandemic. There were 153 new horizontal wells spud in the first quarter of 2020. This figure represents a decrease of 45 wells (-22.7 percent

Hits: 11

MTR-2016-11.pdf

third quarter remain at the same high level. Drilling jobs are not necessary to support production from a well. A new well can produce at a high level for at least two years with minimal labor. Once operators have built up Moreover, improvements in technology have increased the potential output of newer wells, which allows operators to enhance production with less new drilling. After the first few years of a well’s life, production declines dramatically. A typical shale gas well in

Hits: 11

Presentation_PBC_6-12-14_data.xlsx

bls.gov/) Demographics by State 1990-2012 Year/ Total Population Share of Population Annual Growth Rate Age Group Delaware Maryland New Jersey New York Ohio Pennsylvania Virginia West Virginia Delaware Maryland New Jersey New York Ohio Pennsylvania Virginia West Virginia Delaware Maryland New

Hits: 10

PBB_2019_JCJC_Report.pdf

Under incremental budgeting, policymakers use fund- ing levels from the prior year and base funding decisions on any new demands placed upon the agency. For most agencies, performance metrics are not part of that process. A PBB approach emphasizes perfor- mance round PBB plans, this review used metrics that were readily available because limited time was available to develop new metrics, and a PBB framework had to be developed that could solicit data from agencies in an efficient manner. Therefore, many of

Hits: 10

NGPR_2020_Q3.pdf

from the U.S. Energy Information Administration (EIA) and (2) recent regional price trends from Bentek Energy. Production Volume and New Wells Spud Recent data from DEP show that natural gas production volume from horizontal wells was 1,751 billion cubic 3 percent from September 2019, the first year-over-year decline in monthly production since February 2017. There were 111 new horizontal wells spud in the third quarter of 2020. This figure represents a decrease of 24 wells (-17.8 percent

Hits: 10

NGPR-2020-Q2.pdf

from the U.S. Energy Information Administration (EIA) and (2) recent regional price trends from Bentek Energy. Production Volume and New Wells Spud Recent data from DEP show that natural gas production volume from horizontal wells was 1,717 billion cubic low-price environment and (2) impacts from the COVID-19 pandemic on the demand for natural gas. There were 113 new horizontal wells spud in the second quarter of 2020. This figure represents a decrease of 51 wells (-31.1 percent

Hits: 10

Newsstand_January_2020.pdf

January 2020 | | www.ifo.state.pa.us Pennsylvania News National News IFO NEWS STAND States Pay $30 Billion per Year on Targeted Tax Breaks A recent article in the Wall Street

Hits: 10

MTR-2017-05.pdf

Sales tax revenues are critical to the state budget because each percentage point of growth generates roughly $100 million of new revenues. Weak sales tax revenues are not limited to Pennsylvania. As shown by the table, some adjacent states have also motivate that result. First, PA consumers could be paying down debt. However, recent data from the Federal Reserve Board of New York show that PA per capita consumer debt levels increased (1.3%) during the past nine months. An increase in

Hits: 10

Five_Year_Outlook_2016_IFO_PPT.pdf

Driven by DHS, Pensions and temporary payment delays. Summer 2016: Enactment of Policy Changes.  Adds $1.1 billion of new revenue this year.  $674 million permanent; $386 million temporary. November 2016: ~$1.7 to $3.0 Billion Structural Deficit Controlled Simulation.  What happens if PA economy has “normal” growth?  Assumes no recession over next five years. No New State or Federal Policy Changes.  But, the Governor must bring budget into balance.  What about the federal government

Hits: 10

NGPR-2016Q4.pdf

increased (2.9% and 0.3%). Table 4 also shows that, in calendar year 2016, only 41 of the 504 new wells spud in that year produced gas (8.1%), while in calendar year 2015, 156 of the 783 wells spud 2015 Q1 2015 Q2 2015 Q3 2015 Q4 2016 Q1 2016 Q2 Figure 1: Number of Producing, Non-Producing and New Wells by Calendar Year Notes: Horizontal wells only. Non-producing wells are the sum of shut-in and spud but

Hits: 9

Newsstand_February_2020.pdf

February 2020 | | www.ifo.state.pa.us Pennsylvania News National News IFO NEWS STAND Mortgage Originations Grow 87% as Homeowners Refinance The Federal Reserve Bank of New York released household debt

Hits: 9

Newsstand_2018_July.pdf

(717) 230-8293 | | www.ifo.state.pa.us Pennsylvania News PA Ranks 19 th in Real GDP Growth for 2018 Q1 On July 24, the U.S. Bureau of Economic GDP growth (2.0%) for the first quarter (quarterly annualized growth rate). Pennsylva- nia underperformed Virginia (2.4%), but outperformed New Jersey and Ohio (1.6%), Maryland (1.5%), West Virginia and Delaware (1.3%), and New York (1.1%). For

Hits: 9

MTR-2017-04.pdf

to remain close to home. The graph confirms this trend, as the top five states where PA graduates migrated (California, New York, North Carolina, New Jersey and Maryland) contain large urban areas or are situated on a coast. The outflow could also be attributable to

Hits: 9

MTR-2017-03.pdf

7% 0.7% -0.3% Dollar amounts are in millions. PA CONSUMER DEBT OUTPACES REGION The Federal Reserve Bank of New York (FRBNY) publishes quarterly state data on consumer debt. The data span major loan types, such as mortgage, auto, credit to several nearby states that have only reached their pre-recession levels in the past two years. Some states (Michigan, New Jersey and Ohio) have yet to reach their pre-recession levels. Mortgage debt is the largest category, comprising more than

Hits: 9

MTR-2015-09.pdf

Neɑ IRS SɎaɎe MigɌaɎiɉɈ DaɎa ReɆeaɍed The Internal Revenue Service (IRS) recently released new data that capture interstate migration patterns for calendar years 2012 and 2013. The data are based on the mailing addresses includes dependents) and $935 million of adjusted gross income reported on tax returns for tax year 2012. The states of New York (6,925), New Jersey (3,858) and Maryland (1,056) were the primary states to record a net inflow

Hits: 9

Letter_to_JSGC.pdf

prior to publication.  Upon publication, the IFO discovered that the final version of its submission (1) includes a wholly new table and new calculation that were not part of the original submission, along with new text, (2) alters certain table titles, sub-section

Hits: 9

IFO testimony CR Hearing Jan 29 2020.pdf

Forty-four states currently levy a CNIT, with the highest statutory rate (12.00 percent) levied by Iowa followed by New Jersey (10.50 percent) and Pennsylvania (9.99 percent).  Fourteen states use a graduated rate structure, while 30 levy combined reporting for firms that meet unitary group standards. The most recent states to enact combined reporting are Kentucky and New Jersey (both in 2018) and New Mexico (effective January 1, 2020).  The remaining 17 states that levy a CNIT

Hits: 9

WJ-Presentation-Natural-Gas-7-14-20.pdf

123 6,822 7,163 Growth 31.1% 13.0% 10.8% 5.3% 14.2% 11.4% 5.0% New Wells Drilled 1,369 784 502 811 777 614 500 Growth 12.9% -42.7% -36.0% 61.6% -4 demand for natural gas to decline by 4% for the year, first drop since 2009. Low-price environment has discouraged new drilling and production growth  270 new wells drilled through the end of June, a 93 well (26%) decline from

Hits: 8

Response-Letter-9-30-2019.pdf

the same local situs could materially reduce collections (5-10 percent). The projections included in the enclosed table assume the new SUT (including that imposed on food and clothing) is imposed at the state level.  The SUT estimates assume that funding windfall from an increase in the tax rate.  The SUT estimates for clothing and food assume that the new 2% tax is only imposed on those items not subject to the current 6% tax.  Your letter indicates that

Hits: 8

PBB_2019_PCCD_Report.pdf

Under incremental budgeting, policymakers use fund- ing levels from the prior year and base funding decisions on any new demands placed upon the agency. For most agencies, performance metrics are not part of that process. A PBB approach emphasizes perfor- mance round PBB plans, this review used metrics that were readily available because limited time was available to develop new metrics, and a PBB framework had to be developed that could solicit data from agencies in an efficient manner. Therefore, many of

Hits: 8

Newsstand_March_2020.pdf

March 2020 | | www.ifo.state.pa.us Pennsylvania News National News IFO NEWS STAND Outlook for Regional Manufacturing Unclear The New York Federal Reserve released its March 2020 Empire State Manufacturing

Hits: 8

MTR-2017-08.pdf

24.7), Maryland (17.7) and Delaware (14.8). Across the Mid-Atlantic region, all states with the exception of New Jersey (9.8) and Virginia (9.9) recorded a higher death rate than the national average (10.4). For the U.S., the highest rates were recorded by West Virginia (36.0) and New Hampshire (31.3), while the lowest rates were in Nebraska (3.1) and South Dakota (3.5). The opioid crisis

Hits: 8

IFO-Presentation-11-14-2019.pdf

GDP +1.8% | Wages-Salaries +3.9% | CPI-U +2.0% No future use of one-time shifts, delays or new funding sources November 14, 2019 5 Demographic Outlook Outlook is unchanged – modest or no growth in state population  2016 IFO. PA Migration Snapshots November 14, 2019 8 Age Group Total 2018 State Domestic 2017 0 to 19 28,921 New Jersey 13,821 20 to 24 -20,289 New York 11,179 25 to 39 12,014 Maryland 2,806

Hits: 8

TC_2020_Organ and Bone Marrow Donation Tax Credit.pdf

permit taxpayers to claim the deduction for expenses incurred by a spouse. 9  Three border states (Maryland, New York and Ohio) offer an income tax deduction for the donor. No other border state offered any living donor-related tax incentives utilized and the state costs are generally reported to be less than $50,000 annually. 5 Arkansas, Iowa, New York, Oklahoma, Rhode Island and Wisconsin limit the income tax deduction to once in the donor’s lifetime. 6 The Arkansas tax

Hits: 7

Special-Funds-Response-Letter-03-08-2019.pdf

Nebraska 4,329 3,030 4,508 0 11,867 Nevada 3,990 4,393 5,308 223 13,914 New Hampshire 1,512 2,221 2,097 103 5,933 New Jersey 33,827 15,172 8,116 2,166 59,281 New Mexico 6,106 8,105 4,713 662

Hits: 7

Response-Letter-05-13-2019.pdf

school district property taxes are frozen at FY 2018-19 levels for all types of properties (residential, commercial, etc.). 3 New SUT rates would be 7.0% or 8.0% respectively. The new rates for Philadelphia would be 9.0% or 10.0%. The new rates for Allegheny county would be 8.0%

Hits: 7

NGPR-2019Q3.pdf

or DEP. “Other” includes wells with miscellaneous designations such as abandoned. Independent Fiscal Office 4 Third Quarter 2019 Figure 4: New Horizontal Wells Spud Figures 3 and 4 display recent trends in well counts. Figure 3 shows the quarterly history of represents a de- crease of 68 wells (-4.7 percent) from the prior year. Figure 4 displays the number of new horizontal wells spud in each quarter over the last five calendar years. There were 132 new horizontal wells spud in

Hits: 7

NGPR-2017Q4.pdf

than 12 quarters before that date and (2) produced above 90 mcf per day. Figure 1 displays the number of new horizontal wells spud in each quarter since 2011. There was a slight increase in new wells spud for the fourth quarter of 2017. There were 810 new horizontal wells spud in 2017, which was an

Hits: 7

NGIFE-2015.pdf

years one, two, four and five. This is the result of the annual average price of natural gas on the New York Mercantile Exchange ($2.66) moving below the $3.00 per MMbtu threshold. 2 Estimated impact: ‐$32.7 million.  Fewer new wells. Wells pay the highest impact fee for their first operating year. The estimated 785 wells spud in 2015 represent

Hits: 7

NewsStand_2019_August.pdf

August 2019 | | www.ifo.state.pa.us Pennsylvania News National News IFO NEWS STAND Women Drive 80% of Job Growth in Health Care since 2000 On August 14, the U.S

Hits: 7

MTR-2016-12.pdf

0.5%. During the first half of the year, real GDP growth in surrounding states ranged from 2.8% in New York to –3.4% in West Virginia. The U.S. Bureau of Economic Analysis divides GDP into different sectors for first half of 2016. December 2016 Monthly Trends Report 2016 Real GDP Growth by State State Q1 Q2 First Half New York 5.6% 0.1% 2.8% Delaware 2.9% 1.5% 2.2% New Jersey 2.2% 1.7%

Hits: 7

2002_drop_report.pdf

participants who are no longer earning pension benefits could result in excessive funding. Other State Statutes. In the absence of new legislation, the lack of clarification with respect to the status of DROP participants and their eligibility for killed-in-service be higher because more highly compensated, long-service employees will be retained as DROP participants instead of being replaced by new, lower paid employees. Promotional opportunities for junior employees also may be temporarily blocked due to continued employment of DROP participants

Hits: 7

Revenue-Estimate-2019-05-Presentation.pdf

June 2018 1.3% 3.8% 4.3% 4.2% May 2019 1.3% 4.0% 4.0% 4.0% New Jobs (000s) June 2018 50.0 62.9 62.5 57.1 May 2019 48.8 58.8 65.6 Real GDP 1.8% 2.1% 1.9% 1.9% Wages-Salaries 3.4% 4.0% 4.0% 4.1% New Jobs (000s) 46.8 65.6 57.7 54.6 Philadelphia CPI-U 0.9% 1.3% 1.6% 2

Hits: 6

RB_2020_12_PPP_Loans_to_PA_Businesses.pdf

3 PPP Employment Impact: Jobs Saved or Retained Although the program was enacted quickly in order to minimize job loss, new research finds that the program had a modest employment impact. The research also finds that the average cost per job Service. Raj Chetty, John N. Friedman, Nathaniel Hendren, and Michael Stepner, “The Economic Impacts of COVID-19: Evidence From a New Public Database Built Using Private Sector Data,” NBER Working Paper No. 27431 (Nov. 2020). 7 João Granja, Christos Makridis, Constantine

Hits: 6

RB-2020-10-Impact_of_TCJA_on_PA_Taxpayers.pdf

37% bracket (effective for taxable income above $600,000, previously $480,050 for the 39.6% bracket).  Allowed a new 20 percent deduction for certain qualified business income.  Repealed itemized deductions except for state and local taxes (SALT) paid married filing joint, the credit phases-out for Adjusted Gross Income above $400,000; previously $110,000) and created a new $500 credit for other dependents.  Increased alternative minimum tax (AMT) exemption phase-out thresholds. The impact of the TCJA

Hits: 6

RB-2015-04.pdf

adjacent states require that employers pay a minimum wage that exceeds the federal minimum of $7.25 per hour. For New Jersey and Ohio, the state minimum wage is tied to in Ðlation as measured by the consumer price index for in Ðlation measure reveals a decline, or disin Ðlation, so those minimum wage rates remain unchanged for 2016. In Maryland, New York and West Virginia, the state minimum wage increases pursuant to statute. The proposal increases the state minimum wage to

Hits: 6

Public Employee Retirement Laws of PA Local Governments (2009).pdf

recovery pro- gram level or specific remedies previously elected, the govern- ing body of the municipality must formally adopt a new resolution amending or replacing the original resolution. The Commission will transmit an individual notification of distress determination to a municipality for another local govern- ment that is a member of PMRS, the employee may transfer service credits unimpaired to the new local government employer. - 41 - Other Features. Other features of PMRS are: • Receipt of service credits for intervening military service and

Hits: 6

Presentation_Lancaster_Chamber_2017-07-14.pdf

9 25.0 14.2 37.8 Maryland 5,788 6,006 0.7 25.0 14.1 38.4 New York 19,403 19,796 0.4 23.9 15.0 38.3 New Jersey 8,804 8,958 0.3 24.8 15.0 39.6 Ohio 11,541 11,613 0.1

Hits: 6

PA_Turnpike_Toll_Projections_May_31_2013.pdf

6 percent per annum. The inflation measure reflects the price of all consumer goods and services for the Pennsylvania-Delaware-New Jersey-Maryland region, also referred to as the PA-DE-NJ-MD CPI-U.  Total payroll employment grows by Turnpike, NH -0.10 Wilbur Smith & Assoc. (1994) Several U.S. Toll Facilities -0.10 to -0.35 UTM (2000) New Jersey Turnpike -0.20 Burris et al. (2001) Lee County, FL -0.03 to -0.36 Burris (2003) Lee County

Hits: 6

NGPR-2019Q2.pdf

or DEP. “Other” includes wells with miscellaneous designations such as abandoned. Independent Fiscal Office 4 Second Quarter 2019 Figure 4: New Horizontal Wells Spud Figures 3 and 4 display recent trends in well counts. Figure 3 shows the quarterly history of repre- sents a decrease of 42 wells (2.8 percent) from the prior year. Figure 4 displays the number of new hori- zontal wells spud in each quarter over the last five calendar years. There were 163 new horizontal wells spud

Hits: 6

NGPR-2018Q3.pdf

or DEP. “Other” includes wells with miscellaneous designations such as abandoned. Independent Fiscal Office 4 Third Quarter 2018 Figure 4: New Horizontal Wells Spud Figures 3 and 4 display recent trends in well counts. Figure 3 shows the quarterly history of quarter of 2018 decreased by 76 wells (-5.0 percent) from the previous quarter. Figure 4 displays the number of new horizontal wells spud in each quarter over the last five calendar years. For the third quarter of 2018, there were

Hits: 6

NGPR-2017Q3.pdf

than 12 quarters before that date and (2) produced above 90 mcf per day. Figure 1 displays the number of new horizontal wells spud in each quarter since 2011. There was a slight decline in new wells spud for the third quarter of 2017 after consecutive increases in the four previous quarters. 443 369 513 513

Hits: 6

NGPR-2017Q2.pdf

day and were spud during the listed year or the two preceding calendar years. Figure 1 displays the number of new horizontal wells spud in each quarter since 2011. After declining to its lowest point in the second quarter of 2016, new horizontal wells spud have increased in each of the last four quarters. 443 369 513 513 401 372 229 309

Hits: 6

NewsStand_2019_June.pdf

(717) 230-8293 | | www.ifo.state.pa.us Pennsylvania News Existing Home Prices Increase by 5.0% in 2019 Q1 On May 28, the Federal Housing Finance Authority (FHFA) released 5.0% on a year-over- year basis. Nearly all states bordering Pennsylvania saw smaller increases in existing home prices: New York (4.7%), New Jersey (3.1%), Delaware (0.8%) and Maryland (0.6%). West Virginia was the only border

Hits: 6

NewsStand_2019_July.pdf

July 2019 | | www.ifo.state.pa.us Pennsylvania News National News IFO NEWS STAND Nursing Home Costs Outpacing Medical and Consumer Inflation On June 25, Bloomberg featured the results of a

Hits: 6

Newsstand_2018_November.pdf

(717) 230-8293 | | www.ifo.state.pa.us Pennsylvania News PA Student Loan Debt Continues to Climb in 2018 Q3 On November 16, the Federal Reserve Bank of New York released consumer debt data for 2018 Q3. For Pennsylva- nia, the data show that per capita student loan debt

Hits: 6

Newsstand_2018_May.pdf

(717) 230-8293 | | www.ifo.state.pa.us Pennsylvania News Philadelphia 2018: The State of the City The PEW Charitable Trusts released a report on Philadelphia that shows bullish economic states, lag- ging behind West Virginia (2.6%) and Ohio (1.9%), but outperforming Delaware (1.6%), Maryland (1.5%), New York (1.1%) and New Jersey (0.9%). -May 2018 - National News U.S. Jobless Rate Falls Below 4% for

Hits: 6

Newsstand_2018_December.pdf

(717) 230-8293 | | www.ifo.state.pa.us Pennsylvania News PA Impact Fee to Use Higher Fee Schedule for CY 2018 Final futures data for CY 2018 reveal that the Q2: 3.1%). Third quarter annualized growth was also slower than surrounding states: Ohio (6.9%), West Virginia (6.7%), New York (4.7%), New Jersey (3.7%), Delaware (3.0%) and Maryland (2.2%). For the U.S., annualized growth

Hits: 6

MTR-2017-07.pdf

INDEPENDENT FISCAL OFFICE - Amount 2017 Q1 Annual Growth 1 AAGR 2 2012-2017 Maryland $59,390 4.4% 2.3% New Jersey $62,970 3.4% 2.8% New York $61,630 3.0% 3.3% Ohio $45,730 3.6% 2.9% Pennsylvania $52,240 4.0% 2

Hits: 6

MER-2015-06.pdf

growth rate in megawatt-hours of electricity sold to industrial customers in Pennsylvania each calendar quarter. 2 Completed Home Sales (New and Existing) The year-over-year growth rate in the number of single-family prop- erties, townhomes and condominiums sold U.S. Energy Information Administration. 3/Pennsylvania Association of Realtors. 4/Federal Housing Finance Agency. 5/Federal Reserve Bank of New York. 2014.2 2014.3 2014.4 2015.1 4.6% 5.0% 2.2% -0.2% 3.7% 4

Hits: 6

Like-Kind_Exchange_Analysis.pdf

may own a vehicle such as a pick-up truck or car. 6 The firm may prefer to obtain a new vehicle every third or fourth year, and the like-kind exchange rules could provide significant tax benefits. The firm may to report a $10,000 gain if no basis remained. However, if the firm exchanges the used vehicle for a new $40,000 vehicle, then the $10,000 gain can be deferred. In this case, the depreciable basis of the new

Hits: 6

HTAE_2019_05_15.pdf

1% 1.7% 2.1% 1.9% Wages-Salaries 4.0% 1.3% 4.0% 4.0% 3.9% Net New Jobs (000s) 46.2 48.8 58.8 65.6 57.7 Philadelphia CPI-U -0.1% 0.6% 1.3% 1.3% 1.6% Note: Corporate profits are domestic profits only. Includes S corporations. Net new jobs excludes self-employed and independent contractors. Source: U.S. Bureau of Economic Analysis, U.S. Bureau of Labor Statistics

Hits: 6

Senate Budget Hearing Request.pdf

20/0 Missouri 20/2 Arkansas 5/0 Montana 7/3 California 20/2 Nebraska 20/0 Colorado 20/0 New Hampshire 10/0 Connecticut 20/0 New Jersey 20/0 Delaware 20/2 New Mexico 20/0 Florida 20/0 New York 20/3 Georgia 20/2

Hits: 5

Presentation_Rotary_Club_of_York_7-15-2015.pdf

0.9% for PSERS. (2) The SERS normal cost is computed based on the cost of benefits earned by a new member. The PSERS normal cost is based on an average of the costs for all members. PSERS reports that the cost for a new member is approximately 3%. Sources: SERS 2014 Actuarial Report (June 2015) and PSERS June 30, 2014 Actuarial Valuation (January 2015

Hits: 5

PICPA Presentation_ June 11, 2019.pdf

June 2018 1.3% 3.8% 4.3% 4.2% May 2019 1.3% 4.0% 4.0% 4.0% New Jobs (000s) June 2018 50.0 62.9 62.5 57.1 May 2019 48.8 58.8 65.6 Real GDP 1.8% 2.1% 1.9% 1.9% Wages-Salaries 3.4% 4.0% 4.0% 4.1% New Jobs (000s) 46.8 65.6 57.7 54.6 Philadelphia CPI-U 0.9% 1.3% 1.6% 2

Hits: 5

NGPR-2018Q4.pdf

or DEP. “Other” includes wells with miscellaneous designations such as abandoned. Independent Fiscal Office 4 Fourth Quarter 2018 Figure 4: New Horizontal Wells Spud Figures 3 and 4 display recent trends in well counts. Figure 3 shows the quarterly history of quarter of 2018 increased by 3 wells (0.2 percent) from the previous quarter. Figure 4 displays the number of new horizontal wells spud in each quarter over the last five calendar years. For the fourth quarter of 2018, there were

Hits: 5

NGPR-2018Q2.pdf

operator or DEP. “Other” includes wells with miscellaneous designations such as abandoned. Independent Fiscal Office 4 Second Quarter Figure 4: New Horizontal Wells Spud Figures 3 and 4 display recent trends in well counts. Figure 3 shows the quarterly history of inventory of wells decreased by 102 (-6.3 per- cent) over the previous quarter. Figure 4 displays the number of new horizontal wells spud in each quar- ter over the last five calendar years. For the second quarter of 2018, there

Hits: 5

NGPR-2018Q1.pdf

or DEP. “Other” includes wells with miscellaneous designations such as abandoned. Independent Fiscal Office 4 First Quarter 2018 Figure 4: New Horizontal Wells Spud, By Quarter Figures 3 and 4 display recent trends in well counts. Figure 3 shows the quarterly The inventory of wells increased by 51 (3.2 percent) over the previous quarter. Figure 4 displays the number of new horizontal wells spud in each quarter since 2011. There were 197 new horizontal wells spud in the first quarter of

Hits: 5

NGPR-2017Q1.pdf

a half-year basis. Starting in 2015, data are reported on a monthly basis. Figure 1 displays the number of new horizontal wells spud in each quarter since 2011. After declining to its lowest point in the second quarter of 2016, new horizontal wells spud have increased in each of the last three quarters. Figure 1: New Horizontal Wells Spud, By Quarter

Hits: 5

NGPR-2016Q3.pdf

and earlier, which have become less productive as they age (see Tables 3 and 4). Figure 2 shows that 145 new wells were spud in the third quarter of 2016. This was an increase of 73 wells over the prior quarter, which is the largest quarterly increase since 2012. However, the 145 new wells spud is still one of the lowest totals on record. Figure 2: New Horizontal Wells Spud, By Quarter 442

Hits: 5

NGPR-2016Q2.pdf

first quarter of 2015, the number of producing wells has grown every quarter (see Table 7). However, the number of new wells spud declined during that same time, as shown in Figure 2. The term “spud” denotes the beginning of the drilling process, and there is often a substantial lag before a well produces output. Table 8: Number of New Wells Spud Calendar Year Q1 Q2 Q3 Q4 Total 2016 110 72 n.a. n.a. 182 2015 219 201

Hits: 5

NGPR-2016Q1.pdf

wells spud in 2011 or earlier. Independent Fiscal Office 4 May 2016 - Natural Gas Production Report Table 8: Number of New Wells Spud Calendar Year Q1 Q2 Q3 Q4 Total 2016 110 n.a. n.a. n.a. 110 2015 219 of 44.5 percent per annum (see Table 6). However, beginning in the first quarter of 2015, the number of new wells spud began to decline significantly (see Table 8). Therefore, the increase in production for the first quarter of 2016

Hits: 5

NGIFE-2016.pdf

fee schedule and estimated collections by operating year. The primary reasons for the decline in collections are as follows:  New wells insufficient to offset aging of wells. The impact fee is highest in a well’s first operating year, and declines as the well ages (see Table 2). Revenue from the 503 new wells spud is not expected to offset reduced collections from older wells as their fees decline. Estimated net impact: -$9

Hits: 5

NewsStand_2019_September.pdf

September 2019 | | www.ifo.state.pa.us Pennsylvania News National News IFO NEWS STAND Lower Mortgage Payments Bolster Disposable Income According to the CoreLogic Insight Blog, typical mortgage payments have decreased

Hits: 5

NewsStand_2019_October.pdf

October 2019 | | www.ifo.state.pa.us Pennsylvania News National News IFO NEWS STAND Growing Number of Older Americans Burdened by Housing Costs A report by Harvard University’s Joint Center

Hits: 5

Newsstand_2018_June.pdf

(717) 230-8293 | | www.ifo.state.pa.us Pennsylvania News New Data Show Strong PA Labor Market On May 23, the U.S. Bureau of Labor Statistics released state and county

Hits: 5

Newsstand_2018_August.pdf

(717) 230-8293 | | www.ifo.state.pa.us Pennsylvania News Retail Sales Strong in PA and U.S. On August 15, the U.S. Commerce Department released data that shows to that outcome. PA Consumer Debt Increases 0.6% in 2018 Q2 On August 14, the Federal Reserve Bank of New York released consumer debt data for 2018 Q2. For Pennsylvania, the data show a modest increase in per capita consumer

Hits: 5

NAP-2018-03.pdf

purchase goods and services from businesses in other industries (indirect spending). The additional direct and indirect spending increases earnings, as new jobs are created, existing wages are increased and enhanced profits flow through to business owners. The economic activity generated by to businesses and individuals who qualify for their program and caps the annual credits allocated at $3 million. In contrast, New Jersey offers a 100% tax credit but reserves it strictly for businesses that invest in comprehensive revitalization plans. New Jersey

Hits: 5

MTR-2018-04.pdf

Consumer Sentiment Index 6 94.4 99.7 101.4 98.8 n.a. n.a. n.a. n.a. New Building Permits 7 9.2% 8.1% 5.9% n.a. -1.2% 8.9% 6.5% n.a. QUARTERLY Dept. of Revenue. 6. A diffusion index that reflects consumer optimism. Source: UM—Survey of Consumers. 7. Annual growth of new, privately owned single-housing units authorized for construction based on latest three months of data. Source: U.S. Census Bureau

Hits: 5

MTR-2018-03.pdf

Consumer Sentiment Index 6 95.9 94.4 99.7 101.4 n.a. n.a. n.a. n.a. New Building Permits 7 9.5% 9.2% 8.1% n.a. -3.9% -1.2% 8.9% n.a. QUARTERLY Dept. of Revenue. 6. A diffusion index that reflects consumer optimism. Source: UM—Survey of Consumers. 7. Annual growth of new, privately owned single-housing units authorized for construction based on latest three months of data. Source: U.S. Census Bureau

Hits: 5

MTR-2018-02.pdf

Consumer Sentiment Index 6 98.5 95.9 94.4 99.9 n.a. n.a. n.a. n.a. New Building Permits 7 10.4% 9.5% 9.2% n.a. 3.9% -3.9% -1.2% n.a. QUARTERLY Dept. of Revenue. 6. A diffusion index that reflects consumer optimism. Source: UM—Survey of Consumers. 7. Annual growth of new, privately owned single-housing units authorized for construction based on latest three months of data. Source: U.S. Census Bureau

Hits: 5

MTR-2017-12.pdf

IFO) released revised monthly projections for the fiscal year (FY) 2017-18 revenue estimate published in June 2017. 1 The new release includes the incremental impact on General Fund revenues of (1) Acts 42, 43, 44 and 55 of 2017 and Consumer Sentiment Index 6 95.1 100.7 98.5 95.9 n.a. n.a. n.a. n.a. New Building Permits 7 8.6% 9.2% 10.4% n.a. 25.7% 10.7% 3.9% n.a. QUARTERLY

Hits: 5

MTR-2017-01.pdf

2016. The months’ supply is the number of months it would take for current inventory to be depleted if no new homes were added to the market. National data reflect similar trends as Pennsylvania. The National Association of Realtors estimates that Consumer Sentiment Index 6 87.2 93.8 98.2 98.1 n.a. n.a. n.a. n.a. New Building Permits 7 8.9% 7.5% 8.6% n.a. 12.3% 18.8% 20.7% n.a. Quarterly

Hits: 5

MTR-2016-10.pdf

of San Francisco; Rich, Robert et al. “U.S. Real Wage Growth: Slowing Down With Age.” Federal Reserve Bank of New York. 1.8% 5.3% -2.2% 3.9% 1.8% 4.0% 2.6% -4.0% -2.0% 0 Consumer Sentiment Index 6 90.0 89.8 91.2 87.2 n.a. n.a. n.a. n.a. New Building Permits 7 4.4% 5.5% 5.4% n.a. 8.7% 3.5% -2.4% n.a. Quarterly

Hits: 5

MTR-2015-08.pdf

of jobs by matching borrowers and lenders. The industry has been evolving in recent years due to economic pressures and new financial regulations. Since 2006, an average of ten banks per year have closed or been acquired, according to data from Consumer Sentiment Index 6 90.7 96.2 93.1 91.9 n.a. n.a. n.a. n.a. New Building Permits 7 9.4% 10.5% 9.3% n.a -24.1% -15.3% -11.0% n.a. Quarterly

Hits: 5

Impact-Fee-Estimate-2019.pdf

components of the reduction are as follows:  Lower fee schedule. The average annual price of natural gas on the New York Mercantile Exchange (NYMEX) for CY 2019 was $2.63 per MMBtu. Due to the price dropping below $3.00 levels. The NYMEX gas price has not been below $3.00 since CY 2016. Estimated impact: -$49.9 million.  New wells offset aging wells. Wells pay the highest impact fee in their first operating year. The collections from wells in

Hits: 5

IFO Five-Year Outlook.pdf

of Pennsylvania Today’s Presentation  Report posted to IFO website: www.ifo.state.pa.us.  Demographic Outlook  New projections from Penn State Data Center.  Economic Outlook  Latest projections from IHS Global Insight.  Expenditure Outlook  Slide 6 15.Nov.2012 Differences exclude the carryover of any ending balances, lapses or transfers to the BSF. Demographics New Population Projections from Penn State Data Center based on 2010 Census The Economic and Budget Outlook Slide 7 15.Nov

Hits: 5

HAC testimony Feb 2019.pdf

at full capacity, with the unemployment rate at 4.2% (December 2018), strong net jobs growth (roughly 73,000 net new payroll jobs in 2018) and wages increasing at a solid pace (4.3% for 2018 Q4). Moreover, median existing home inflation of 1.5%. The only downside to the state labor market is that nearly one-third of the net new jobs created occurred in three low-wage sectors: food service, social assistance and home healthcare. Due to flat demographic growth

Hits: 5

TaxCredit and PBB Overview- 2019-01-24.pptx

Tax Credit Reviews Historic Preservation Film Production New Jobs Presentation to the Performance-Based Budget Board January 24, 2019 1/24/2019 0 Act 48 of 2017 – Tax recommendations and (3) key decision points. Year 1 review schedule: ▪ Historic Preservation Tax Credit (HPTC). ▪ Film Production Tax Credit (FPTC). ▪ New Jobs Tax Credit (JCTC). January 24, 2019 1 Tax Credit Methodology Meet with stakeholders and agency staff. ▪ Request data from

Hits: 4

TaxCredit and PBB Overview- 2019-01-24.pdf

Tax Credit Reviews Historic Preservation Film Production New Jobs Presentation to the Performance-Based Budget Board January 24, 2019 Act 48 of 2017 – Tax Credit Duties The tax key decision points. Year 1 review schedule:  Historic Preservation Tax Credit (HPTC).  Film Production Tax Credit (FPTC).  New Jobs Tax Credit (JCTC). January 24, 2019 1 Tax Credit Methodology Meet with stakeholders and agency staff.  Request data

Hits: 4

Tax-Foundation-Presentation-11-14-2019.pdf

Cap Years Cap Pennsylvania 0 $0 20 40% of liability Delaware Conforms to federal treatment Maryland Conforms to federal treatment New Jersey 0 $0 20 Unlimited New York 3 Unlimited 20 Unlimited Ohio Not applicable (no corporate income tax) West Virginia Conforms to federal treatment Source: Tax

Hits: 4

Sen_Maj_Pol_Comm_Brain_Drain_Workshop_04_30_2019.pdf

000 80,000 Inflow 25-34 Outflow 25-34 4 State 1 Inflow to PA Outflow from PA Net Migration New York 21,445 14,280 7,165 New Jersey 20,265 13,363 6,902 Virginia 5,938 11,003 -5,065 Ohio 7,195 9,710 -2

Hits: 4

SEIU Healthcare Wage Contract Analysis- 2019.pdf

in wages paid due to workforce turnover, as more experienced, higher-paid workers separate from service, and are replaced by new, lower-paid workers. All else equal (i.e., the total number of employees and wage rates do not change), this churning reduces total wages paid in the baseline scenario. These savings are entirely separate from the new agreement and should not be used to offset the incremental costs that result from the agreement. The turnover factor (-1

Hits: 4

Response_Letter_9_23_2019.pdf

4,180 $4,180 income dependent Nebraska fully taxable limited exemption income dependent Nevada n.a. n.a. n.a. New Hampshire n.a. n.a. n.a. New Jersey $60,000 $60,000 exempt New Mexico $8,000 $8,000 income dependent New York $20,000 exempt exempt

Hits: 4

PSBA Presentation - Final.pdf

92 $5.14 $5.36 $5.59 All Other Revenues $0.76 $0.84 $0.88 $0.90 $0.93 New Revenues Available $11.18 $11.74 $12.28 $12.81 $13.35 SD Prop. Tax Replacement $11.19 $12.13 5% to 4.0%). Some important considerations:  How will “baseline” school district property taxes grow?  How will the new replacement revenues grow?  How will both respond to economic conditions? 1/19/2017 8 Long-Term Revenue Growth Trends

Hits: 4

Presentation_PA_Bus_Council_6-22-15.pdf

IFO. 2014 GDP is preliminary. 2011 2012 2013 2014 Rank Pennsylvania 0.8% 0.5% 1.5% 1.7% 13 New York 0.7 2.7 0.6 2.0 8 New Jersey -1.2 2.2 0.5 -0.1 42 Maryland 0.4 -0.4 0.0 0.0 41

Hits: 4

Presentation-2019-5-1-PAEL.pdf

12.00 $13.00 $14.00 Washington $12.00 $13.50 $13.84 Massachusetts $12.00 $12.75 $13.50 New York $11.10 $11.80 $12.50 Maryland $10.10 $11.00 $11.75 1 New Jersey $10.00 $11.00 $12.00 Delaware $8.75 $9.25 $9.25 West Virginia $8.75 $8.75

Hits: 4

Presentation-2018-07-NCSL.pdf

those outcomes. 7/29/2018 5 Implementation  Legislation (now Act 5 of 2017) proposed a significant benefit redesign for new employees beginning in 2019.  Benefit options include hybrid DB/DC plans or DC-only plan.  DB changes provide lower multipliers and higher retirement ages. Analysis confirmed the mitigation of investment risk.  Employer contributions under the new law become less sensitive to a lower earnings assumption, but the effect phases in over time. Little impact in the

Hits: 4

Presentation-2018-06-PICPA.pdf

Sources: U.S. Bureau of Economic Analysis, U.S. Bureau of Labor Statistics, Energy Information Administration, Federal Reserve Bank of New York and Federal Housing Finance Agency. June.12.2018 5 Change in PA Payroll Jobs (000s) 2015 2016 2017 2018 053 4,582 5,082 5,354 5,888 Growth 31.3% 13.1% 10.9% 5.4% 10.0% New Wells Spud 1,350 783 503 810 810 Growth 13.6% -42.0% -35.8% 61.0% 0.0% Henry

Hits: 4

NGPR-2019Q1.pdf

DEP. “Other” includes wells with miscellaneous designations such as abandoned. 2018 Independent Fiscal Office 4 First Quarter 2019 Figure 4: New Horizontal Wells Spud Figures 3 and 4 display recent trends in well counts. Figure 3 shows the quarterly history of quarter of 2019 increased by 24 wells (1.6 percent) from the previous quarter. Figure 4 displays the number of new hori- zontal wells spud in each quarter over the last five calendar years. For the first quarter of 2019, there

Hits: 4

NGIFE-2018.pdf

as follows:  Statutory fee schedule. The schedule is based on the average annual price of natural gas on the New York Mercantile Exchange (NYMEX). Because the average annual price for natural gas eclipsed $3.00, the impact fee schedule was adjusted upwards. 2 Net impact: +$43.4 million  New wells offset aging wells. The impact fee is highest in a well’s first operating year, and declines as the

Hits: 4

NewsStand_2019_May.pdf

(717) 230-8293 | | www.ifo.state.pa.us Pennsylvania News Real State GDP Growth is 2.1% for CY 2018 On May 1, the U.S. Bureau of Economic Analysis at the end of July. Consumer Debt Increases Modestly in 2019 Q1 On May 14, the Federal Reserve Board of New York released consumer debt data for 2019 Q1. The data show the total per capita debt of PA consumers increased

Hits: 4

NewsStand_2019_December.pdf

December 2019 | | www.ifo.state.pa.us Pennsylvania News National News IFO NEWS STAND November Retail Sales An article by the Wall Street Journal reports that November retail sales, excluding motor

Hits: 4

Newsstand_2018_April.pdf

Pennsylvania News Nationwide News (717) 230-8293 | Rachel Carson State Office Building Harrisburg, PA | www.ifo.state.pa.us Could Shale Gas Lead To

Hits: 4

MTR-2018-1.pdf

Consumer Sentiment Index 6 100.7 98.5 95.9 94.4 n.a. n.a. n.a. n.a. New Building Permits 7 9.2% 10.4% 9.5% n.a. 10.7% 3.9% -3.9% n.a. QUARTERLY Dept. of Revenue. 6. A diffusion index that reflects consumer optimism. Source: UM—Survey of Consumers. 7. Annual growth of new, privately owned single-housing units authorized for construction based on latest three months of data. Source: U.S. Census Bureau

Hits: 4

MTR-2017-11.pdf

Consumer Sentiment Index 6 96.8 95.1 100.7 98.5 n.a. n.a. n.a. n.a. New Building Permits 7 10.0% 8.6% 9.2% n.a. 13.5% 25.7% 10.7% n.a. QUARTERLY Dept. of Revenue. 6. A diffusion index that reflects consumer optimism. Source: UM—Survey of Consumers. 7. Annual growth of new, privately owned single-housing units authorized for construction based on latest three months of data. Source: U.S. Census Bureau

Hits: 4

MTR-2017-10.pdf

Consumer Sentiment Index 6 93.4 96.8 95.1 100.7 n.a. n.a. n.a. n.a. New Building Permits 7 11.4% 10.0% 8.6% n.a. 16.6% 13.5% 25.7% n.a. QUARTERLY Dept. of Revenue. 6. A diffusion index that reflects consumer optimism. Source: UM—Survey of Consumers. 7. Annual growth of new, privately owned single-housing units authorized for construction based on latest three months of data. Source: U.S. Census Bureau

Hits: 4

MTR-2017-09.pdf

Consumer Sentiment Index 6 95.1 93.4 96.8 95.1 n.a. n.a. n.a. n.a. New Building Permits 7 7.8% 11.4% 10.0% n.a. 2.3% 16.6% 13.5% n.a. QUARTERLY Dept. of Revenue. 6. A diffusion index that reflects consumer optimism. Source: UM—Survey of Consumers. 7. Annual growth of new, privately owned single-housing units authorized for construction based on latest three months of data. Source: U.S. Census Bureau

Hits: 4

MTR-2017-06.pdf

Consumer Sentiment Index 6 96.9 97.0 97.1 95.1 n.a. n.a. n.a. n.a. New Building Permits 7 13.4% 8.3% 9.3% n.a. 6.7% 0.1% 9.2% n.a. Quarterly Dept. of Revenue. 6. A diffusion index that reflects consumer optimism. Source: UM—Survey of Consumers. 7. Annual growth of new, privately owned single-housing units authorized for construction based on latest three months of data. Source: U.S. Census Bureau

Hits: 4

MTR-2017-02.pdf

Consumer Sentiment Index 6 93.8 98.2 98.5 96.3 n.a. n.a. n.a. n.a. New Building Permits 7 7.5% 8.6% 13.4% n.a. 18.8% 20.7% 16.9% n.a. Quarterly Dept. of Revenue. 6. A diffusion index that reflects consumer optimism. Source: UM—Survey of Consumers. 7. Annual growth of new, privately owned single-housing units authorized for construction based on latest three months of data. Source: U.S. Census Bureau

Hits: 4

MTR-2016-08.pdf

Consumer Sentiment Index 6 94.7 93.5 90.0 89.8 n.a. n.a. n.a. n.a. New Building Permits 7 11.8% 8.3% 4.4% n.a. 24.8% 25.6% 8.7% n.a. Quarterly Dept. of Revenue. 6. A diffusion index that reflects consumer optimism. Source: UM—Survey of Consumers. 7. Annual growth of new, privately owned single-housing units authorized for construction based on latest three months of data. Source: U.S. Census Bureau

Hits: 4

MTR-2016-06.pdf

Consumer Sentiment Index 6 91.0 89.0 94.7 93.5 n.a. n.a. n.a. n.a. New Building Permits 7 15.1% 14.1% 11.8% n.a. 25.9% 31.2% 24.8% n.a. Quarterly Dept. of Revenue. 6. A diffusion index that reflects consumer optimism. Source: UM—Survey of Consumers. 7. Annual growth of new, privately owned single-housing units authorized for construction based on latest three months of data. Source: U.S. Census Bureau

Hits: 4

MTR-2016-05.pdf

Consumer Sentiment Index 6 91.7 91.0 89.0 94.7 n.a. n.a. n.a. n.a. New Building Permits 7 12.3% 15.1% 14.1% n.a 10.4% 25.9% 31.2% n.a. Quarterly Dept. of Revenue. 6. A diffusion index that reflects consumer optimism. Source: UM—Survey of Consumers. 7. Annual growth of new, privately owned single-housing units authorized for construction based on latest three month of data. Source: U.S. Census Bureau

Hits: 4

MTR-2016-04.pdf

Consumer Sentiment Index 6 92.0 91.7 91.0 89.0 n.a. n.a. n.a. n.a. New Building Permits 7 11.5% 12.3% 15.1% n.a. -3.1% 10.4% 25.9% n.a. Quarterly Dept. of Revenue. 6. A diffusion index that reflects consumer optimism. Source: UM—Survey of Consumers. 7. Annual growth of new, privately owned single-housing units authorized for construction based on latest three month of data. Source: U.S. Census Bureau

Hits: 4

MTR-2016-03.pdf

Consumer Sentiment Index 6 92.6 92.0 91.7 91.0 n.a. n.a. n.a. n.a. New Building Permits 7 10.7% 11.5% 12.3% n.a. -12.4% -3.1% 10.4% n.a. Quarterly Dept. of Revenue. 6. A diffusion index that reflects consumer optimism. Source: UM—Survey of Consumers. 7. Annual growth of new, privately owned single-housing units authorized for construction based on latest three month of data. Source: U.S. Census Bureau

Hits: 4

MTR-2016-02.pdf

Consumer Sentiment Index 6 91.3 92.6 92.0 90.7 n.a. n.a. n.a. n.a. New Building Permits 7 10.5% 10.7% 11.5% n.a. -10.1% -12.4% -3.1% n.a. Quarterly Dept. of Revenue. 6. A diffusion index that reflects consumer optimism. Source: UM—Survey of Consumers. 7. Annual growth of new, privately owned single-housing units authorized for construction based on latest three month of data. Source: U.S. Census Bureau

Hits: 4

MTR-2016-01.pdf

Consumer Sentiment Index 6 90.0 91.3 92.6 92.0 n.a. n.a. n.a. n.a. New Building Permits 7 8.3% 10.5% 10.7% n.a. -7.9% -10.1% -12.4% n.a. Quarterly Dept. of Revenue. 6. A diffusion index that reflects consumer optimism. Source: UM—Survey of Consumers. 7. Annual growth of new, privately owned single-housing units authorized for construction based on latest three month of data. Source: U.S. Census Bureau

Hits: 4

MTR-2015-11.pdf

Consumer Sentiment Index 6 91.9 87.2 90.0 91.3 n.a. n.a. n.a. n.a. New Building Permits 7 11.2% 9.4% 8.3% n.a. 2.3% -0.8% -7.9% n.a. Quarterly Dept. of Revenue. 6. A diffusion index that reflects consumer optimism. Source: UM—Survey of Consumers. 7. Annual growth of new, privately owned single-housing units authorized for construction based on latest three month of data. Source: U.S. Census Bureau

Hits: 4

MTR-2015-10.pdf

Consumer Sentiment Index 6 93.1 91.9 87.2 90.0 n.a. n.a. n.a. n.a. New Building Permits 7 9.3% 11.2% 9.4% n.a. -11.0% 2.3% -0.8% n.a. Quarterly Dept. of Revenue. 6. A diffusion index that reflects consumer optimism. Source: UM—Survey of Consumers. 7. Annual growth of new, privately owned single-housing units authorized for construction based on latest three month of data. Source: U.S. Census Bureau

Hits: 4

MTR-2015-07.pdf

Consumer Sentiment Index 6 95.9 90.7 96.1 93.1 n.a. n.a. n.a. n.a. New Building Permits 7 10.0% 9.4% 10.5% n.a -18.7% -24.1% -15.3% n.a. Quarterly Dept. of Revenue. 6. A diffusion index that reflects consumer optimism. Source: UM—Survey of Consumers. 7. Annual growth of new, privately owned single-housing units authorized for construction based on latest three month of data. Source: U.S. Census Bureau

Hits: 4

Monthly_Economic_Update_September_2020.pdf

Applications for New Business in Pennsylvania Grow 15% Over 2019 The U.S. Census Bureau released Pennsylvania weekly business application data for the 19.3% higher than the same week in 2019 and high-propensity business applications are 11.6% higher than 2019. New IRS Data Reveal Impact of TCJA on PA Taxpayers The IRS released state-level data for tax year 2018 that

Hits: 4

Monthly_Economic_Update_November_2020_Final.pdf

are taxed but services are generally exempt. Consumer Debt Increases from Prior Year, Credit Card Balances Continue to Decline The New York Federal Reserve Bank released consumer debt data for 2020 Q3. Pennsylvania consumer debt declined 0.9% from the prior allowed forbearance on mortgage and student loans for six months (renewable), while many auto loan businesses offered optional forbearance. The New York Federal Reserve Bank reported on the status of borrowers in forbearance for a mortgage or auto loan. More individuals

Hits: 4

MER-2014-05.pdf

delinquent. 3 Sources: 1/ U.S. Bureau of Economic Analysis. 2/ Federal Housing Finance Agency. 3/ Federal Reserve Bank of New York. 2013.2 2013.3 2013.4 2014.1 2.5% 4.1% 2.6% ‐1.0% 3.2% 3 5% 5.6% 5.5% 5.2% May 2014 Monthly Economic Report Independent Fiscal Of Ðice ‐ Commonwealth of Pennsylvania Snapshot: New Quarterly GDP Statistics On April 25, 2014, the U.S. Bureau of Economic Anal‐ ysis released new quarterly statistics on

Hits: 4

Initial-Revenue-Estimate-2018-05.pdf

8 million). The FY 2018-19 estimate includes $12.5 million in table game fees associated with the new mini- casinos and $54.0 million for iGaming certificates and operator licenses.  Escheats collections are projected to total $111.6 million based on the unrounded amounts. Raffle included in In-State Lotto. Lottery expansion is composed of iLottery and new monitor games. Lottery expansion is excluded from total ticket sales and revenues, and the potential impact on existing games is not reflected

Hits: 4

Five_Year_Outlook_2017_Presentation.pdf

TQM, Continuous Improvement.  Cost-Benefit Analysis - PEW Results First model.  Performance-Based Budgeting (PBB). Act 48 of 2017: New PBB and tax credit review duties.  IFO to develop PBB plans for all executive agencies.  Develop clear metrics 1.86 -$1.78 Plus: Revenue Package 2.30 0.22 0.14 0.09 0.08 0.07 Less: New SUT Transfer -- -- -- -- -- -0.48 November 2017 Final -1.54 1.62 -0.99 -1.87 -1.77 -1.78 -2

Hits: 4

Budget_Hearing_Background-Feb2014.pdf

Over Year Growth Rates “All Other” includes mortgage, credit card, auto and other miscellaneous debt. Source: Federal Reserve Bank of New York. PA Dollar Change in Per Capita Total Debt Source: Federal Reserve Bank of New York. -10.0% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% Student Loan All Other -$1

Hits: 4

Boyd PA IFO November 2016.pdf

rockinst.suny.edu November 15, 2016 Main points •Despite large contribution increases (> avg in PA) and benefit cuts (primarily for new workers), U.S. public pension underfunding remains near record, almost as severe as at end of recession •Underfunding varies greatly need risk-taking to work out well or else contributions will rise significantly. Already public pension plans generally have bad news in the bank for FY 2015 and 2016 that will drive contributions up. Plans and govts should evaluate risk carefully

Hits: 4

2020_Impact_Fee_Estimate.pdf

the decrease in collections are as follows:  Lower Fee Schedule. The average annual price of natural gas on the New York Mercantile Exchange (NYMEX) for CY 2020 was $2.08 per MMBtu. Due to the price dropping below $2.25 fee schedule decreased by $5,000 per horizontal well compared to CY 2019 levels. Estimated impact: -$52.1 million.  New and Existing Wells. The net impact of (1) reduced collections from aging wells that pay lower fees and wells that

Hits: 4

2012-11 Monthly Economic Summary- DRAFT 6.pdf

6.5% Sources: 1/ U.S. Bureau of Economic Analysis. 2/ Federal Housing Financing Authority. 3/ Fed. Res. Bank of New York. 2012.3 n.a. 0.0% 5.3% Monthly Economic Report N o v e m b e r consecutive in- creases since 2006. Data from the U.S. Bureau of Cen- sus also signal a recovery based on new home sales and starts in 2012. In October, new single-family residential homes sales in the Northeast increased by 10

Hits: 4

Releases

of school district property taxes attributable to homestead property. (This report was originally posted on February 2, 2021. Based on new data for the 2020 Q4 ECI, which impacts the FY 2020-21 ECI computation, this report was updated and reposted of the FY 2020-21 state budget in November 2020. Tags: estimates , monthly , revenue Full Report Economic and Budget Update Presentation February 19, 2021 | News Stand & Other Deputy Director Brenda Warburton gave a presentation at a session of the Pennsylvania Education Policy Fellowship Program regarding

Hits: 4

UGSOA_Wage_Contract_ Analysis_2020.pdf

in wages paid due to workforce turnover, as more experienced, higher-paid workers separate from service, and are replaced by new, lower- paid workers. All else equal (i.e., the total number of employees and wage rates do not change), this churning reduces total wages paid in the baseline scenario. These savings are entirely separate from the new agreement and should not be used to offset the incremental costs that result from the agreement. The turnover factor (-1

Hits: 3

Smetters_Presentation_Full.pdf

12 Revenue Impact Revenue Effect 2018-2027 (billions of $) Revenue Effect 2018-2040 (billions of $) Tax Provision JCT PWBM PWBM New tax rate and bracket structure -1,214 -1,307 -1,364 Expand the standard deduction and repeal personal exemptions 491 438 438 Index tax provisions to chained CPI 134 88 765 New pass-through business deduction -415 -542 -758 Pass-through business loss limits 150 140 114 Expand Child Tax Credit (CTC

Hits: 3

SEIU Local 668 UC Referees Analysis- 2020.pdf

in wages paid due to workforce turnover, as more experienced, higher-paid workers separate from service, and are replaced by new, lower-paid workers. All else equal (i.e., the total number of employees and wage rates do not change), this churning reduces total wages paid in the baseline scenario. These savings are entirely separate from the new agreement and should not be used to offset the incremental costs that result from the agreement. The turnover factor (-2

Hits: 3

Revenue_and_Economic_Update_Presentation_2020_10.pdf

S. Census: 18.8% of PA renter households missed last rental payment (Oct 2020)  Impacts 300,400 renter households (new experimental Pulse Survey)  Philly Fed: 4.5% of PA renter households have rental debt by Dec (IPUMS)  Impacts  What happens to jobs that were lost?  To what extent is prior level of income merely redistributed in new form? October 29, 2020 14 Looking Forward Projections do not assume new major federal stimulus or closures  The form

Hits: 3

RB-2019-01.pdf

4 million increase from actual collections in the prior year. The primary reasons for the increase are as follows:  New wells offset aging wells. The impact fee is highest in a well’s first operating year, and declines as the well ages. Revenue from the 779 new wells spud offset reduced collections from older wells as their fees decline or they become exempt. Net impact: +$15.1

Hits: 3

PSEA Wage Contract Analysis- 2020.pdf

in wages paid due to workforce turnover, as more experienced, higher-paid workers separate from service, and are replaced by new, lower- paid workers. All else equal (i.e., the total number of employees and wage rates do not change), this churning reduces total wages paid in the baseline scenario. These savings are entirely separate from the new agreement and should not be used to offset the incremental costs that result from the agreement. The turnover factor (-2

Hits: 3

PSCOA Wage Contract Analysis- 2020.pdf

in wages paid due to workforce turnover, as more experienced, higher-paid workers separate from service, and are replaced by new, lower- paid workers. All else equal (i.e., the total number of employees and wage rates do not change), this churning reduces total wages paid in the baseline scenario. These savings are entirely separate from the new agreement and should not be used to offset the incremental costs that result from the agreement. The turnover factor (-2

Hits: 3

PLEA Wage Contract Analysis- 2019.pdf

in wages paid due to workforce turnover, as more experienced, higher-paid workers separate from service, and are replaced by new, lower-paid workers. All else equal (i.e., the total number of employees and wage rates do not change), this churning reduces total wages paid in the baseline scenario. These savings are entirely separate from the new agreement and should not be used to offset the incremental costs that result from the agreement. The turnover factor (-2

Hits: 3

perez ppt.pdf

Income Tax Above Estimate On Target Below Estimate Not applicable Source: NCSL survey of state legislative fiscal offices, Fall 2011 *New Hampshire and Tennessee do not levy a personal income tax, but tax interest income and dividends. Tennessee did provide information Transfer  17 states reported real estate transfer taxes coming in on target or above expectations. 4 states—Hawaii, Michigan, New Jersey and Pennsylvania—reported transfer taxes below the current forecast.  Miscellaneous  5 states and Puerto Rico saw other

Hits: 3

PDA Wage Contract Analysis- 2019.pdf

in wages paid due to workforce turnover, as more experienced, higher-paid workers separate from service, and are replaced by new, lower-paid workers. All else equal (i.e., the total number of employees and wage rates do not change), this churning reduces total wages paid in the baseline scenario. These savings are entirely separate from the new agreement and should not be used to offset the incremental costs that result from the agreement. The turnover factor (-0

Hits: 3

PA_Economy_League_Presentation.pdf

annum). PIT is personal income tax. SUT is sales-use tax. Percentages that appear in parentheses represent the share of new revenues from the associated tax law change. 18 19.May.2017 Statutory Tax Incidence Shares Total Individual Business Sales Tax report, including family members. Home mortgage includes primary mortgages, secondary mortgages and home equity loans. Source: Federal Reserve Bank of New York. Change in Real Per Capita Debt: 2003 to 2015 25 Various methods to eliminate or reduce SD taxes. 

Hits: 3

OPEIU Wage Contract Analysis- 2019.pdf

in wages paid due to workforce turnover, as more experienced, higher-paid workers separate from service, and are replaced by new, lower-paid workers. All else equal (i.e., the total number of employees and wage rates do not change), this churning reduces total wages paid in the baseline scenario. These savings are entirely separate from the new agreement and should not be used to offset the incremental costs that result from the agreement. The turnover factor (-2

Hits: 3

Official-Revenue-Estimate-Methodology-2019-06.pdf

regression uses a log transformation, quarterly data and two explanatory variables: wage and business net income and Pennsylvania new car and light truck registrations. Motor and non-motor model projections are gross of any transfers, which are deducted from projections to by the increase in state GDP for Arts, Entertainment and Recreation for FY 2019-20 and adjusted for new revenues attributable to gaming expansion. General Fund Methodologies | Page 22 - This page intentionally left blank. - Motor License Fund Methodologies | Page 23 Motor

Hits: 3

Official-Revenue-Estimate-2018-06.pdf

8 million). The FY 2018-19 estimate includes $12.5 million in table game fees associated with the new mini- casinos, $30 million for sports wagering licenses and $54 million for iGaming certificates and operator licenses.  Escheats collections are projected MA recipients continue to rise slightly. 4 In addition, the MA line item reflects the creation of the new Community HealthChoices (CHC) program. The total CHC grant request is $1.67 billion for FY 2018-19, but only $171 million of

Hits: 3

novak ppt.pdf

a method that works indefinitely. • Buy local. Survey of Professional Forecasters (SPF) Real GDP (%) Unemployment Rate (%) Payrolls (000s/month) Previous New Previous New Previous New Quarterly data: 2011:Q4 2.6 2.6 9.0 9.0 148.7 115.3 2012:Q1

Hits: 3

NFIB_Presentation.pdf

Demographics: rapid aging, domestic out-migration. ◦ Economics: latest data show 2016 weaker than expected. ◦ Short- and long-term budget outlook. ◦ New revenue package: borrowing, transfers and gaming. ◦ FYTD Revenues: hitting estimate through November. Looking forward: federal tax reform, property tax reform AAGR Beginning Balance -$1,538 -- -- -- -- Baseline Revenues 31,055 $32,187 $33,200 $34,428 $35,460 3.4% Plus: New Revenues 2,303 216 140 91 77 Less: Expenditures 31,951 33,516 35,330 36,417 37,447 4

Hits: 3

Newsstand_2019_March.pdf

(717) 230-8293 | | www.ifo.state.pa.us Pennsylvania News PA Real Gross Domestic Product Expanded by 2.8% in 2018 Q3 On February 26, the U.S. Bureau of prices (-11.3%). Excluding consumer purchases related to en- ergy, the CPI-U increase was 1.9%. - March 2019- National News Tight Labor Market Begins to Translate to Wage Gains On March 8, the U.S. Department of Labor released average

Hits: 3

Newsstand_2019_April.pdf

(717) 230-8293 | | www.ifo.state.pa.us Pennsylvania News Labor Market Slows in 2019 Q1 On April 19, the U.S. Bureau of Labor Statistics released state employment data by 11.0%. Excluding energy, the Philadelphia CPI-U increased by 1.9% from the prior year. - April 2019- National News Federal Income Tax Refunds Remain Below Prior Year On a weekly basis, the IRS releases the latest data regarding federal

Hits: 3

Newsstand_2018_October.pdf

(717) 230-8293 | | www.ifo.state.pa.us Pennsylvania News Early Data Show PA Economy Had Robust Growth in 2018 Q3 Four real-time data sources suggest that the Pennsylvania the three previous years were as follows: 2016 (0.0%), 2017 (0.3%) and 2018 (2.0%). - October 2018 - National News U.S. Treasury Posts $779 Billion Deficit for FFY 2018 On October 15, the U.S. Treasury Monthly Treasury Statement

Hits: 3

MTR-2016-09.pdf

Consumer Sentiment Index 6 93.5 90.0 89.8 91.2 n.a. n.a. n.a. n.a. New Building Permits 7 8.3% 4.4% 5.5% n.a. 25.6% 8.7% 3.5% n.a. QUARTERLY Dept. of Revenue. 6. A diffusion index that reflects consumer optimism. Source: UM—Survey of Consumers. 7. Annual growth of new, privately owned single-housing units authorized for construction based on latest three months of data. Source: U.S. Census Bureau

Hits: 3

MQRE-FY19-20-Aug.pdf

Monthly and Quarterly Estimates | Page 6 Tax Credits Related to Beginning Farmers (Act 65) The act provides a new tax credit for owners of agricultural assets who sell or rent those assets to beginning farmers. The credit is equal to (1 effective July 1, 2019. Prior Law Previously, a company could claim a tax credit of $1,000 per new job created, or $2,500 per each new job created if the newly created job was filled by a veteran or an

Hits: 3

MGMT Nonrepresented Wage Contract.pdf

to prepare a cost analysis that assumes all management and non-represented employees will receive salary increases consistent with the new collective bargaining agreements. For the purpose of this analysis, the IFO applied the American Federation of State, County and Municipal in wages paid due to workforce turnover, as more experienced, higher-paid workers separate from service, and are replaced by new, lower-paid workers. All else equal (i.e., the total number of employees and wage rates do not change), this

Hits: 3

MER-2014-11.pdf

S. Bureau of Economic Analysis. 2/Pennsylvania Association of Realtors. 3/Federal Housing Finance Agency. 4/Federal Reserve Bank of New York. 2013.4 2014.1 2014.2 2014.3 3.5% ‐2.1% 4.6% 3.9% 0.1% 3 5% 5.2% 5.2% 4.5% November 2014 Monthly Economic Report Independent Fiscal Of Ðice ‐ Commonwealth of Pennsylvania Snapshot: New Quarterly Housing Indicator for Pennsylvania This month’s report includes a new quarterly economic indicator: the year‐over‐year growth

Hits: 3

MER-2014-10.pdf

delinquent. 3 Sources: 1/ U.S. Bureau of Economic Analysis. 2/ Federal Housing Finance Agency. 3/ Federal Reserve Bank of New York. 2013.4 2014.1 2014.2 2014.3 3.5% ‐2.1% 4.6% 3.5% 0.1% 3 constrained, and likewise causes an excess of re‐ gional supply that lowers prices. The industry is rac‐ ing to develop new Marcellus pipelines. By 2018, there will be an additional 1,805 miles of pipelines leading into or out of Pennsylvania

Hits: 3

MER-2014-06.pdf

delinquent. 3 Sources: 1/ U.S. Bureau of Economic Analysis. 2/ Federal Housing Finance Agency. 3/ Federal Reserve Bank of New York. 2013.2 2013.3 2013.4 2014.1 2.5% 4.1% 2.6% ‐2.9% 3.2% 3 cludes various technical changes such as the recog‐ nition of research and development (R&D) as capi‐ tal expenditures and new source data. Overall, BEA revisions reduced GSP growth for Pennsylvania by 0.5 percentage points in both 2011 and 2012

Hits: 3

MER-2014-04.pdf

delinquent. 3 Sources: 1/ U.S. Bureau of Economic Analysis. 2/ Federal Housing Finance Agency. 3/ Federal Reserve Bank of New York. 2013.1 2013.2 2013.3 2013.4 1.1% 2.5% 4.1% 2.6% 2.8% 3 4% 5.5% 5.6% 5.5% April 2014 Monthly Economic Report Independent Fiscal Of Ðice ‐ Commonwealth of Pennsylvania Snapshot: New Pennsylvania Economic Indicator This month’s report includes a new economic indica‐ tor for Pennsylvania: the volume of commercial vehi‐

Hits: 3

MER-2014-02.pdf

delinquent. 3 Sources: 1/ U.S. Bureau of Economic Analysis. 2/ Federal Housing Finance Agency. 3/ Federal Reserve Bank of New York. 2013.1 2013.2 2013.3 2013.4 1.1% 2.5% 4.1% 2.4% 2.8% 3 may be the fact that Pennsylvania consumers continue to pay down debt. Recent data from the Federal Reserve Bank of New York reveal that Pennsylvania consumers re‐ duced average per capita debt levels by more than $1,000 (‐2.6 percent

Hits: 3

ISSU Wage Contract Analysis- 2019.pdf

in wages paid due to workforce turnover, as more experienced, higher-paid workers separate from service, and are replaced by new, lower-paid workers. All else equal (i.e., the total number of employees and wage rates do not change), this churning reduces total wages paid in the baseline scenario. These savings are entirely separate from the new agreement and should not be used to offset the incremental costs that result from the agreement. The turnover factor (-3

Hits: 3

House Budget Hearing Request.pdf

8,648,250 $8,786,763 2.8% Maryland $41,139,083 $39,556,993 $41,308,885 0.2% New Jersey $68,121,744 $67,362,610 $69,081,342 0.7% New York $181,226,180 $184,040,200 $178,324,895 -0.8% Ohio $76,524,453 $76,291,671 $79

Hits: 3

FOSCEP Wage Contract Analysis- 2019.pdf

in wages paid due to workforce turnover, as more experienced, higher-paid workers separate from service, and are replaced by new, lower-paid workers. All else equal (i.e., the total number of employees and wage rates do not change), this churning reduces total wages paid in the baseline scenario. These savings are entirely separate from the new agreement and should not be used to offset the incremental costs that result from the agreement. The turnover factor (-1

Hits: 3

CIVEA Wage Contract Analysis- 2019.pdf

in wages paid due to workforce turnover, as more experienced, higher-paid workers separate from service, and are replaced by new, lower-paid workers. All else equal (i.e., the total number of employees and wage rates do not change), this churning reduces total wages paid in the baseline scenario. These savings are entirely separate from the new agreement and should not be used to offset the incremental costs that result from the agreement. The turnover factor (-1

Hits: 3

ALES Wage Contract Analysis- 2019.pdf

in wages paid due to workforce turnover, as more experienced, higher-paid workers separate from service, and are replaced by new, lower-paid workers. All else equal (i.e., the total number of employees and wage rates do not change), this churning reduces total wages paid in the baseline scenario. These savings are entirely separate from the new agreement and should not be used to offset the incremental costs that result from the agreement. The turnover factor (-1

Hits: 3

2013-10 Monthly Economic Summary.pdf

pa.us Sources: 1/ U.S. Bureau of Economic Analysis. 2/ Federal Housing Finance Agency. 3/ Fed. Res. Bank of New York. Monthly Economic Report O c t o b e r 2 0 1 3 2012.3 2012.4 2013 support industries (NAICS 213111, 213112) increased from 3,538 to 20,943, an increase of nearly 500 percent. 4 The new drilling activity also generates impact fee reve- nues for Pennsylvania municipalities, counties, conser- vation districts and certain state agencies. The

Hits: 3

2013-03b Monthly Economic Summary.pdf

6.6% Sources: 1/ U.S. Bureau of Economic Analysis. 2/ Federal Housing Finance Agency. 3/ Fed. Res. Bank of New York. 2012.3 2.9% -0.3% 5.3% Monthly Economic Report M a r c h 2 0 1 3 Snapshot: Are Consumers Ready to Borrow Again? Independent Fiscal Office Commonwealth of Pennsylvania The Federal Reserve Bank of New York (FRBNY) pub- lishes quarterly tabulations on average consumer debt levels. The debt includes auto, credit card, mortgage and student

Hits: 3

2013 Appropriation Hearings Background Information.pdf

services, some of which would be taxable. PA Consumer Debt Per Capita – Quarterly Growth Rates Source: Federal Reserve Bank of New York. Average Debt of Graduating Seniors - Pennsylvania Source: The Institute for College Access & Success, College InSight, www.college-insight.org of the economy. Increasing sales and home values have a positive effect on consumer sentiment, which leads to additional spending. New construction contributes directly to economic growth through higher employment and consumer spending. • Consumers continue to reduce their overall debt burdens

Hits: 3

Pensions

law on December 23, 2013, Act 125 amended the Second Class County Code (Act 230 of 1953) to establish a new mandatory benefit tier applicable to county employees hired on or after the effective date of the bill. The bill also of actuarial tools intended to provide short-term fiscal relief to local governments operating public pension plans; 2) establish a new municipal distress determination method using the pension plan ratio of assets to liabilities, with corresponding remedies dependent upon the severity

Hits: 3

Wage_Contracts_PDA.pdf

wages paid solely due to the fact that more experienced, higher-paid workers separate from service, and are replaced by new, lower-paid workers. All else equal (i.e., the total number of employees and wage rates do not change), this save $31.0 million due to increased employee contributions (includes all union and management employees) for healthcare benefits under all new agreements. The office provided data to support that estimate, which was supplied by a contracted actuary. Based on the data

Hits: 2

Wage Contract SEIU-FINAL.pdf

wages paid solely due to the fact that more experienced, higher-paid workers separate from service, and are replaced by new, lower-paid workers. All else equal (i.e., the total number of workers and wage rates do not change), this will save $4.7 million due to increased employee contributions (includes union and management employees) for healthcare benefits under the new agreement. The office provided data to support that estimate, which was supplied by a contracted actuary. Based on the data

Hits: 2

Wage Contract AFSCME-FINAL.pdf

wages paid solely due to the fact that more experienced, higher-paid workers separate from service, and are replaced by new, lower-paid workers. All else equal (i.e., the total number of workers and wage rates do not change), this will save $13.6 million due to increased employee contributions (includes union and management employees) for healthcare benefits under the new agreement. The office provided data to support that estimate, which was supplied by a contracted actuary. Based on the data

Hits: 2

Revenue_Estimate_2014-06-16_Snapshot.pdf

reductions are largely the result of updated economic assumptions, a lower estimate for small games of chance tax revenues and new information on the timing of potential casino licensing decisions. Relative to the Executive Budget published in February, these projections are to federal tax law changes. Nontax revenues – The projection includes $50 million from the slot machine license fee for a new Category 1 license. General Fund Snapshot ($ millions) Revenue Source FY13-14 1 Growth FY14-15 1 Growth General Fund - Total

Hits: 2

Revenue-Estimate-2020-05-Presentation.pdf

GDP 2.1% 1.9% 2.3% n.a. Wages-Salaries 4.7% 3.5% 4.3% 3.7% Net New Jobs (000s) 53.1 54.7 48.2 51.4 FHFA Home Price Index 4.9% 4.8% 5.3% 7% 3.8% Revenues Through March (exclude COVID-19) +$165 million over estimate Note: Figures for 2020.1 for Net New Jobs and Home Sales are for January and February only. Source: U.S. Bureau of Economic Analysis, U.S. Bureau

Hits: 2

Revenue Conference Presentation Jan 2013 FINAL.pdf

13.3 13.4 US Personal Consumption 3.4% 3.4% 2.7% 3.0% 3.0% 3.1% US New Car‐Truck 16.7% 10.3% 3.4% 5.9% 2.9% 0.4% US Equipment Investment 4.8% 5 PA Avg. Price, Existing ($000) 203.7 203.3 202.6 207.4 208.9 207.5 PA Avg. Price, New ($000) 263.4 255.6 254.4 257.6 259.3 260.7 Source: IHS Global Insight, January 2013. Starts

Hits: 2

Response-Letter-2-27-2020.pdf

Specifically, your letter requests a fiscal analysis of the federal Family First Prevention Services Act (Family First). Family First provides new federal funding for certain evidence- based prevention services, but limits federal funding for congregate foster care placements. In addition, your the State Plan. Congregate Care Family First disallows federal reimbursement for congregate care placement settings longer than 14 days for new placements beginning October 1, 2019 or later if the state requests a delayed effective date. However, the Act makes an

Hits: 2

Response-Letter-09-06-2019.pdf

an additional estimate related to an analysis transmitted by the Independent Fiscal Office (IFO) on August 16, 2019. 1 The new request provides a proposed rebate for school district property taxes paid up to $5,000 for homeowners age 65 or methodology used from the August 16 letter, the IFO projects that the higher rebate would affect 616,000 homeowners and new rebates would total $1.03 billion for 2017 and grow to $1.09 billion by 2019. As before, senior homeowner

Hits: 2

RB-2015-02-annual_vs_lifetime_ETR.pdf

historical tax burdens for existing wells.  Lifetime tax rate. The average rate over all future years for a single, new well. (Wells are generally assumed to produce for 30 years.) This measure is best used to quantify the tax burden on new wells. The annual tax rate for a state may change from year to year based on the share of total

Hits: 2

RB-10-2020-Economic_Development_Incentives.pdf

of 2019 increased the annual program cap to $70.0 million.  The amount claimed for the Tax Credit for New Jobs decreased considerably to $3.0 million in FY 2019-20 after three years of full utilization ($10.1 million 5.0 Manufacturing Tax Credit 0.0 0.0 0.0 0.0 0.0 4.0 Tax Credit for New Jobs 5.8 6.5 10.1 10.1 10.1 3.0 Mobile Telecomm. Broadband Investment 0.0 0

Hits: 2

PSBA Webinar - IFO - Act5_Actuarial.pdf

17% DC rate T-G and T-H 2.71% Total rate 6/28/2017 3 Note: Rates are for new employees as of the 2020 valuation. All rates are blended rates for the listed benefit classes. Excludes the defined contribution- are below/above the assumed rate by 1 percentage point (ppt) or more over specified look-back periods.  For new employees, possible 0.75 ppt increase/decrease in employee rate every 3 years; up to 3 ppts cumulatively.  Dollar-

Hits: 2

Presentation_PASBO_Annual_Conference_3-8-2018.pdf

School property tax  Demographics  Revenue estimates  Pensions / Act 5 2 March 8, 2018 School Property Tax Update New Forecast, Including Homestead Property Background on Property Tax and Discussion Regarding Possible Replacement Options Challenges for Replacement: Growing vs. Declining T-H 2.17% DC rate T-G and T-H 2.71% Total rate 31 Note: Rates are for new employees as of the 2020 valuation. All rates are blended rates for the listed benefit classes. Excludes the defined contribution-

Hits: 2

Presentation_Harrisburg_Rotary_4-11-2016.pdf

0.9% for PSERS. (2) The SERS normal cost is computed based on the cost of benefits earned by a new member. The PSERS normal cost is based on an average of the costs for all members. PSERS reports that the cost for a new member is approximately 3%. Sources: SERS 2014 Actuarial Report (June 2015) and PSERS June 30, 2015 Actuarial Valuation (January 2016

Hits: 2

Presentation-2018-11-19-CCAP.pdf

Domestic Migration Statistics 2016 November 19, 2018 5 Age Group Net Migration State Net Migration 0 to 19 23,796 New York 17,539 20 to 24 -16,632 New Jersey 16,304 25 to 39 3,367 Maryland 5,328 40 to 59 -9,259 Virginia -2,304 60

Hits: 2

Presentation-2018-08-PA-State-Association-Boroughs.pdf

245 -1,817 Total 258,980 264,520 -5,540 Destination/Origin Inflow to PA Outflow from PA Net Migration New Jersey 41,602 25,298 16,304 New York 42,480 24,941 17,539 Maryland 20,737 15,409 5,328 Florida 14,158 32,582 -18

Hits: 2

Presentation-2018-06-Philly-Pitt-Chambers.pdf

053 4,582 5,082 5,354 5,888 Growth 31.3% 13.1% 10.9% 5.4% 10.0% New Wells Spud 1,350 783 503 810 810 Growth 13.6% -42.0% -35.8% 61.0% 0.0% Henry 1.43 $1.55 $2.20 $2.36 Impact Fee (millions) $224 $188 $173 $218 n.a. Note: Production and new wells spud for horizontal wells only. Regional PA hub price is weighted average for the Dominion South and Leidy hubs

Hits: 2

Presentation-2018-06-PASBO.pdf

053 4,582 5,082 5,354 5,888 Growth 31.3% 13.1% 10.9% 5.4% 10.0% New Wells Spud 1,350 783 503 810 810 Growth 13.6% -42.0% -35.8% 61.0% 0.0% Henry 1.43 $1.55 $2.20 $2.36 Impact Fee (millions) $224 $188 $173 $218 n.a. Note: Production and new wells spud for horizontal wells only. Regional PA hub price is weighted average for the Dominion South and Leidy hubs

Hits: 2

Pennsylvania_Aging_Presentation.pdf

International Migration 29,193 29,791 33,818 34,910 34,678 Other contracting states in 2016: Connecticut, Illinois, Mississippi, New York, West Virginia and Wyoming. Note: Amounts do not sum to total, excludes undefined residual. Source: U.S. Census Bureau report, including family members. Home mortgage includes primary mortgages, secondary mortgages and home equity loans. Source: Federal Reserve Bank of New York. May 24, 2017 16 Change in Real Per Capita Debt: 2003 to 2015 III. Revenue & Funding Trends  Revenue

Hits: 2

PBB-Board-Hearing-Jan-22-2020.pdf

not line item  Activities: What services does the agency provide? January 22, 2020 2 Year 2 Reviews - What’s New? More efficiency, outcome and benchmark metrics  Able to meet with agencies earlier than last year (start in April)  based violation  Highest in nation (13.4%) | four times national rate (3.3%)  DEP increases fees and implements new fees to add resources Vector Management: Black Fly, West Nile and Lyme Disease  West Nile incidence rate: 0.10

Hits: 2

Official-Revenue-Estimate-Methodology-2020-6.pdf

regression uses a log transformation, quarterly data and two explanatory variables: wage and business net income and Pennsylvania new car and light truck registrations. Motor and non-motor model projections are gross of any transfers, which are deducted from projections to and historical collection patterns through May. The FY 2020-21 estimate is based on historical collections and incorporates new revenues for gaming expansion. 8 Business purchases are based on U.S. investment data from the U.S. Bureau of Economic Analysis

Hits: 2

Official-Revenue-Estimate-2020-06-Presentation.pdf

GDP 2.1% 1.9% 2.3% n.a. Wages-Salaries 4.7% 3.5% 4.3% 3.7% Net New Jobs (000s) 53.1 54.7 48.2 51.4 FHFA Home Price Index 4.9% 4.8% 5.3% 7% 3.8% Revenues Through March (exclude COVID-19) +$165 million over estimate Note: Figures for 2020.1 for Net New Jobs and Home Sales are for January and February only. Source: U.S. Bureau of Economic Analysis, U.S. Bureau

Hits: 2

NGPR-2019Q4.pdf

6% 12.4% 19.3% 8 Colorado 1,688 1,831 1,993 0.0% 8.5% 8.9% 9 New Mexico 1,325 1,524 1,863 3.3% 15.1% 22.2% 10 Wyoming 1,805 1,721 1 Production does not directly correspond to DEP data. For CY 2019, December production is estimated by the IFO. All Other New Mexico West Virginia Colorado Wyoming Ohio Louisiana Oklahoma Alaska Pennsylvania Texas 0 5,000 10,000 15,000 20,000

Hits: 2

MTR-2018-05.pdf

fluctuating payment due dates. The non-tax revenue year-over-year growth rate (next page) was impacted by (1) a new $50 million slots license fee, (2) $127 million from the auction of new casino licenses, (3) $1.5 billion from the Tobacco Settlement Fund revenue bond proceeds and (4) $259 million related to

Hits: 2

Monthly_Economic_Update_February_2021.pdf

Over 70% of Economic Impact Payments Saved or Used to Pay Down Debt The New York Federal Reserve released findings from two pandemic-related surveys. Survey recipients were asked to classify how they spent the over the prior year, despite the higher legal age to consume tobacco (raised from 18 to 21 in 2019) and new federal restrictions on e-cigarette flavors. Possible reasons for stronger than expected cigarette and tobacco sales include: increased stress, unregulated

Hits: 2

MER-2015-04.pdf

growth rate in megawatt‐hours of electricity sold to industrial customers in Pennsylvania each calendar quarter. 2 Completed Home Sales (New and Existing) The year‐over‐year growth rate in the number of single‐family prop‐ erties, townhomes and condominiums sold U.S. Energy Information Administration. 3/Pennsylvania Association of Realtors. 4/Federal Housing Finance Agency. 5/Federal Reserve Bank of New York. 2014.2 2014.3 2014.4 2015.1 4.6% 5.0% 2.2% 0.2% 3.7% 4

Hits: 2

MER-2015-03.pdf

U.S. Energy Information Administration. 3/Pennsylvania Association of Realtors. 4/Federal Housing Finance Agency. 5/Federal Reserve Bank of New York. 2014.1 2014.2 2014.3 2014.4 ‐2.1% 4.6% 5.0% 2.2% 3.6% 3 their housing. 2 The share of renters sharply increased from 2010 to 2011, while the share of owners dropped. This new relationship contin‐ ues to the present day. A recent working paper from the Harvard University Joint Center on Housing Studies

Hits: 2

MER-2015-02.pdf

U.S. Energy Information Administration. 3/Pennsylvania Association of Realtors. 4/Federal Housing Finance Agency. 5/Federal Reserve Bank of New York. 2014.1 2014.2 2014.3 2014.4 ‐2.1% 4.6% 5.0% 2.2% 3.6% 3 the Commonwealth’s labor market has regained the total number of jobs lost during the recession, the composi‐ tion of new jobs created are somewhat different. While overall job creation is important, the types of jobs creat‐ ed has economic implications

Hits: 2

MER-2014-08.pdf

delinquent. 3 Sources: 1/ U.S. Bureau of Economic Analysis. 2/ Federal Housing Finance Agency. 3/ Federal Reserve Bank of New York. 2013.3 2013.4 2014.1 2014.2 4.5% 3.5% ‐2.1% 4.2% 3.0% 0 Pennsylvania Snapshot: Personal Consumption Expenditures by State In August 2014, the U.S. Bureau of Economic Analysis (BEA) released a new prototype statistic: personal consumption expenditures (PCE) by state. The PCE data represent the goods and services purchased by or on

Hits: 2

MER-2014-03.pdf

delinquent. 3 Sources: 1/ U.S. Bureau of Economic Analysis. 2/ Federal Housing Finance Agency. 3/ Federal Reserve Bank of New York. 2013.1 2013.2 2013.3 2013.4 1.1% 2.5% 4.1% 2.6% 2.8% 3 1 percent over last year), the number decreased to 35,000 in February (‐47.8 per‐ cent under last year). New single‐unit residential sales in the region followed the same trend, with ap‐ proximately 34,000 sales in January (+6

Hits: 2

MER-2014-01.pdf

delinquent. 3 Sources: 1/ U.S. Bureau of Economic Analysis. 2/ Federal Housing Finance Agency. 3/ Federal Reserve Bank of New York. 2013.1 2013.2 2013.3 2013.4 1.1% 2.5% 4.1% 3.2% 2.8% 3 Viewing this Ðigure exclusively, it would ap‐ pear that the Commonwealth’s labor market is Ðinally recovering. However, the labor news is not all posi‐ tive. The BLS also reported that the number of non‐ farm, seasonally adjusted jobs for December

Hits: 2

MER-2013-11.pdf

pa.us Sources: 1/ U.S. Bureau of Economic Analysis. 2/ Federal Housing Finance Agency. 3/ Fed. Res. Bank of New York. Monthly Economic Report N o v e m b e r 2 0 1 3 2012.4 2013.1 ethylene by an ethane cracker, and is a common feedstock used to pro- duce plastics and resins. Proponents of the new ethane cracker assert that the abundance of cheap natural gas in Pennsylvania creates a comparative advantage for the industry and

Hits: 2

jackson ppt.pdf

otherwise distributed in any form without prior written consent. (Percent change, annual rate) US Employment Will Gradually Recover, Reaching a New Peak in Late 2014 6 © 2012, IHS Inc. No portion of this presentation may be reproduced, reused, or otherwise distributed demand. • Credit conditions remain tight across regions. • Mortgage foreclosures are adding to excess supply, thereby depressing prices and holding back new construction. • Multifamily home construction will lead the recovery, reflecting a shift from owner- occupied to rental housing. A Much-Delayed

Hits: 2

ITEP-Presentation-11-14-2019.pdf

incentives  Reason #3: state tax cut and incentives  Reason #4: shift to pass-through entities  The good news: state policymakers have the tools to combat each of these. The State of State Corporate Income Taxes: 3 Percent and  Eight-year revenue loss from this gap: $126 billion The Future of State Corporate Income Taxes Post-TCJA: ???  New territorial tax system with international anti-avoidance measures. Effectiveness unclear.  Federal collections plummeting (until they’re not) post-TCJA

Hits: 2

IFO_Testimony_Feb2018.pdf

with the latest Philadelphia CPI-U reading running low (0.8% in December), jobs growth strong (roughly 60,000 net new jobs last year) and wages increasing at a solid pace (4.2% in latest quarter). Moreover, median existing home values the Federal Reserve winding down its unusually large portfolio of US Treasury securities (and other debt) as well as the new corporate territorial tax regime (allowing for repatriation of certain deferred foreign income), which will motivate certain firms to sell US

Hits: 2

EPLC-2-19-21.pdf

260 Note: Millions of dollars. Excludes $165 million transfer to Worker’s Compensation Fund in FY 24-25. Executive Budget: New Revenue, Education Funding February 19, 2021 21 General Fund Revenue and Fee Proposals ▪ $2.96 billion – PIT rate increase to 49% | Expand tax forgiveness ▪ $209 million – Combined reporting | CNIT rate reduction phase-in ▪ $116 million – Minimum wage increase ▪ $168 million – New municipal fee to fund state police services General Fund Education Funding Proposals ▪ $1.6 billion – Basic Education ($1.35 billion

Hits: 2

EPLC Feb 2020 FINAL.pdf

or GDP Tax Cuts and Jobs Act Wayfair Decision +66% +48% +43% +40% 2010-11 = 1.0 Lottery and Other New Games February 28, 2020 13 2015-16 2016-17 2017-18 2018-19 2019-20 Traditional Game Sales Instant Tickets 094 5,364 6,123 6,822 Growth 31.2% 13.0% 10.8% 5.3% 14.1% 11.4% New Wells Spud 1,350 783 503 810 779 610 Growth 13.7% -42.0% -35.8% 61.0% -3.8%

Hits: 2

Budget_Hearing_Testimony-Feb2014.pdf

2013. The growth rate can be decomposed into two parts: (1) 1.0 percent for job growth (about 57,000 new jobs) and (2) 2.6 percent for wage inflation, mostly pay raises to current workers. An improvement in the labor unclaimed property or to transfer monies from the Oil and Gas Lease Fund. • Additional slots or table games fees from new casino openings Thank you. I would be happy to answer any questions that you might have. Author: Mark Ryan Company

Hits: 2

Announcement-Updated_Revenue_Estimates_and_Report.pdf

Release Revised Revenue Estimates and Updated Fiscal Outlook The Independent Fiscal Office (IFO) will hold a public presentation to release new revenue estimates and provide an update to its five-year economic and budget outlook. Date and Time: Wednesday, January 27, 2016; 2:00 p.m. Location: 14 th Floor Conference Center, Harrisburg University, 326 Market Street, Harrisburg The new revenue estimates include: (1) a mid-year revision to the IFO’s fiscal year (FY) 2015-16 forecast, and (2

Hits: 2

Analysis of Recent Collective Bargaining Agreements.pdf

wages paid solely due to the fact that more experienced, higher-paid workers separate from service, and are replaced by new, lower-paid workers. All else equal (i.e., the total number of employees and wage rates do not change), this save $31.0 million due to increased employee contributions (includes all union and management employees) for healthcare benefits under the new agreements. The office provided data to support that estimate, which was supplied by a contracted actuary. Based on the data

Hits: 2

2018_Mid-Year_Update.pdf

18-19: +$60-$80 million. Income tax: direct and indirect effects.  Direct: higher dividends and capitals gains.  Indirect: new spending becomes taxable income for others.  Some shifting of business profits out of 2017 to 2018. 29.Jan.2018  Number of U.S. light vehicle sales down 1.8% in 2017.  U.S. CPI-U for 2017: new vehicles -0.2%; used vehicles -3.6%.  Forecast decline of 1.3% for 2018 sales (IHS Markit). Saturated market

Hits: 2

2013-08 Monthly Economic Summary.pdf

pa.us Sources: 1/ U.S. Bureau of Economic Analysis. 2/ Federal Housing Finance Agency. 3/ Fed. Res. Bank of New York. Monthly Economic Report A u g u s t 2 0 1 3 2012.3 2012.4 2013.1 59 68 56 52 Statistical changes -37 -57 -26 -43 -52 32 Total Change 464 432 444 454 444 533 New GDP Measure 14,877 14,834 14,418 14,779 15,052 15,471 growth rate 1.8% -0.3%

Hits: 2

2013-06 Monthly Economic Summary - FINAL.pdf

pa.us Sources: 1/ U.S. Bureau of Economic Analysis. 2/ Federal Housing Finance Agency. 3/ Fed. Res. Bank of New York. Monthly Economic Report J u n e 2 0 1 3 2012.2 2012.3 2012.4 2013.1 demand for LNG and higher domestic prices would likely result in more production from current wells and the drilling of new wells. In- creased production would generate more employment and higher total wages for the industry, which pays a considerably higher

Hits: 2

2013-02 Monthly Economic Report.pdf

6.6% Sources: 1/ U.S. Bureau of Economic Analysis. 2/ Federal Housing Finance Agency. 3/ Fed. Res. Bank of New York. 2012.3 3.0% -0.3% 5.3% Monthly Economic Report F e b r u a r y 5 billion to pay a special $3 billion divi- dend equivalent to more than six years of quarterly dividends. 1 New data released by the Bureau of Economic Analysis (BEA) indicate that fourth quarter dividend payments were indeed much higher in

Hits: 2

2013-01 Monthly Economic Report.pdf

6.6% Sources: 1/ U.S. Bureau of Economic Analysis. 2/ Federal Housing Finance Agency. 3/ Fed. Res. Bank of New York. 2012.3 3.0% 0.0% 5.3% Monthly Economic Report J a n u a r y 2 grocery items, restaurants and entertainment) which comprise roughly 15-20 percent of an average employ- ee’s expenditures. 2 Anecdotal news stories suggest that mid-tier retailers and restaurants are most likely to expe- rience decreasing sales as consumers adjust to

Hits: 2

2012-07 Monthly Economic Summary10.pdf

Share of US consumer debt that is more than 90 days delinquent. Data are from the Federal Reserve Bank of New York. 2011.4 4.1% 4.1% 9.2% -2.6% 7.2% 2012.1 2.0% 2.8% 10 Share of PA consumer debt that is more than 90 days delinquent. Data are from the Federal Reserve Bank of New York. 2011.4 4.1% -2.8% 5.2% 2012.1 3.1% 0.2% 4.9% Independent Fiscal Office

Hits: 2

Links

Statistics • Census Bureau • Weekly Jobless Claims • Employment Situation • Advance Retail Sales • Existing Home Sales • GDP and Profits • Monthly Personal Income • New Residential Sales • Case-Shiller Home Prices • Consumer Confidence PA Economic Indicators • Labor Force and Employment • Quarterly Personal Income • Gross State Department of Labor and Industry • Department of Revenue • General Assembly • Office of the Budget • Office of the Governor State Budget News • Pew Center for States • Rockefeller Institute of Government • Governing: States and Localities • Federation of Tax Administrators • National Conference of State

Hits: 2

Witgert Nov 15, 2012.pdf

eligibility regardless of family or employment status • Financial eligibility rules simplified – Everyone eligible up to 133% FPL • Enhanced FMAP for “new eligibles” • 100% 2014-2016 • 90% thereafter 10 Tools to help decide • How much will the expansion cost a state? – How

Hits: 1

WC-2019-UFCW.pdf

workers (2.69 percent multiplied by the prior year wage base). These savings would have been realized regardless of the new bargaining agreement and should not be attributed to the agreement. Source: Office of Administration. 2/ Estimated base salaries and benefits

Hits: 1

WC-2019-SEIU.pdf

workers (2.20 percent multiplied by the prior year wage base). These savings would have been realized regardless of the new bargaining agreement and should not be attributed to the agreement. Source: Office of Administration. 2/ Estimated base salaries and benefits

Hits: 1

WC-2019-AFSCME.pdf

workers (1.75 percent multiplied by the prior year wage base). These savings would have been realized regardless of the new bargaining agreement and should not be attributed to the agreement. Source: Office of Administration. 2/ Estimated base salaries and benefits

Hits: 1

Wage Contract PFBC-FINAL.pdf

wages paid solely due to the fact that more experienced, higher-paid workers separate from service, and are replaced by new, lower-paid workers. All else equal (i.e., the total number of employees and wage rates do not change), this

Hits: 1

Testimony-02-2020.pdf

U.S. Bureau of Labor Statistics, U.S. Bureau of Economic Analysis, Federal Housing Finance Agency, Federal Reserve Board of New York. Forecasts by IFO. Author: Matthew Knittel Company: Microsoft CreationDate: 2020-02-18 13:27:11 Creator: Acrobat PDFMaker 15

Hits: 1

Select Committee Oct 1 2012 FINAL.pdf

Property Tax Relief Fund.  Analysis assumes that General Fund is held harmless and Department of Revenue able to separate new revenues from existing revenues. 1.Oct.2012 Analysis of HB 1776 and SB 1400 of 2012 – Slide 3 Analysis Objectives

Hits: 1

SD-Property-Tax-Forecast-2020.pdf

FY 2017-18, estimated by IFO thereafter. Forecast Overview Independent Fiscal Office February 2020 2 The tax base expands when new properties are added to the assessment rolls or current properties are reassessed based on improvements, and it contracts when appeals

Hits: 1

SD-Property-Tax-Forecast-2019.pdf

to as economic growth) and (2) tax rate increases as limited under Act 1. 2 The tax base expands when new properties are added to the assessment rolls or current properties are reassessed based on improvements, and it contracts when assessment

Hits: 1

Revenue_Estimate_2016-06-15_Release.pdf

www.twitter.com/ind_fisc_office. Sign up at www.ifo.state.pa.us/EmailSubscr.cfm to be alerted by email when new documents are posted to the IFO website. Contact: Matthew Knittel, 717-230-8293 # # # Author: mryan CreationDate: 2016-06-15 18

Hits: 1

Revenue_Estimate_2015-06-15_Release.pdf

www.twitter.com/ind_fisc_office. Sign up at www.ifo.state.pa.us/EmailSubscr.cfm to be alerted by email when new documents are posted to the IFO website. Contact: Matthew Knittel, 717-230-8293 # # Author: mryan CreationDate: 2015-06-15 19

Hits: 1

Revenue_Estimate_2015-05-04_Release.pdf

FOR IMMEDIATE RELEASE May 4, 2015 Independent Fiscal Office Releases Revenue Estimates (Harrisburg) - - The Independent Fiscal Office (IFO) today released new revenue estimates for FY 2014-15 and FY 2015-16, according to director Matthew Knittel. By statute, the office issues

Hits: 1

Revenue_Estimate_2014-06-16_Release.pdf

www.twitter.com/ind_fisc_office. Sign up at www.ifo.state.pa.us/EmailSubscr.cfm to be alerted by email when new documents are posted to the IFO website. Contact: Matthew Knittel, 717-230-8293 # # Author: MJR Company: Microsoft CreationDate: 2014-06-

Hits: 1

Response-Letter-11-08-2019.pdf

percent of homeowners in Pennsylvania do not apply for the homestead exclusion. 5 This analysis assumes that the enactment of new, higher property tax relief would incentivize one-half of those homeowners to come forward and apply for the rebate. The

Hits: 1

RB-2018-01.pdf

to as economic growth) and (2) tax rate increases as limited under Act 1. 3 The tax base increases when new properties are added to the assessment rolls or current properties are reassessed based on improvements, and it decreases when assessment

Hits: 1

QRR_2015Q4.pdf

tax revenues were above estimate by $4 million for the quarter and $20 million for the fiscal year. News reports indicated that some counties may have withheld funds during the budget impasse. If this occurred, the reported results understate the strength

Hits: 1

QRR_2014Q2.pdf

for the quarter and $72 million for the fiscal year. Total oil company franchise tax collections including the new Act 89 components total $341 million for the quarter and $841 million for the fiscal year. Revenues for this category were above

Hits: 1

QRE_FY14-15.pdf

9 Effective Date The change to the holding period and penalties took effect on July 10, 2014. The new misdemeanor and related fines take effect on January 10, 2015. Fiscal Analysis The FY 2014-15 Executive Budget estimated that the reduction

Hits: 1

Press_Release_2018_Economic_and_Budget_Outlook.pdf

upcoming fiscal year. The potential imbalance falls to $1.58 billion in FY 2023-24 based on current policies. A new sales and use tax transfer to the Public Transportation Trust Fund beginning in FY 2022- 23 reduces revenue by approximately

Hits: 1

Press_Release_2017_Economic_and_Budget_Outlook.pdf

financial statement incorporated only mandatory expenditures.  The recent revenue package is expected to make approximately $2.3 billion of new revenue available in FY 2017-18, which would be sufficient to maintain a positive ending balance for the current year

Hits: 1

Presentation_PICPA_12-3-2014.pdf

Natural Resources +20k | +111% 2003 = 1 14 Expansion for Healthcare and Professional Service Sectors. • Healthy PA to add 600,000 new enrollees. • Some uncertainty over the ACA. Continued Contraction for Government Sector. • Federal government sheds Postal Service jobs. • Local gov’t

Hits: 1

Presentation-2019-3-1-EPLC.pdf

094 5,364 6,123 6,613 Growth 31.2% 13.0% 10.8% 5.3% 14.1% 8.0% New wells spud 1,350 783 503 810 779 n.a. Growth 13.7% -42.0% -35.8% 61.0% -3

Hits: 1

PICPA_Presentation.pdf

levels for all PA consumers with a credit report. Includes family members of such consumers. Source: Federal Reserve Board of New York, Quarterly Report on Household Debt and Credit. U.S. Corporate Profits Decline - Again June 7, 2017 14 Annual Growth

Hits: 1

PICA_Presentation_2020_11.pdf

spending (redirected)  Excess supply in commercial real estate rental market  Less business travel, accommodation and dry cleaning services New spend patterns, more on-line sales and productivity gains = job loss  Grocery spending up ~+10% June to Sept | but

Hits: 1

PEW_Presentation(Video).pptx

org/ taxincentives Evaluation example: Alabama pewtrusts.org/ taxincentives Evaluation example: Minnesota pewtrusts.org/ taxincentives Options to inform policy choices • Create new legislative committees • Utilize existing committee structure • Require the governor to make recommendations after evaluations • Establish expiration dates on incentives to

Hits: 1

PEW_Presentation(Video).ppsx

org/ taxincentives Evaluation example: Alabama pewtrusts.org/ taxincentives Evaluation example: Minnesota pewtrusts.org/ taxincentives Options to inform policy choices • Create new legislative committees • Utilize existing committee structure • Require the governor to make recommendations after evaluations • Establish expiration dates on incentives to

Hits: 1

PBB-Tax-Credits-Schedule-2019-05.pdf

and Alcohol Programs Insurance Revenue Executive Offices Environmental Hearing Board Conservation and Natural Resources Year Tax Credits 1 Film Production New Jobs Historic Preservation Incentive 2 Research and Development Keystone Innovation Zones Mobile Telecom and Broadband Organ and Bone Marrow 3

Hits: 1

PBB-Board-Hearings-Schedule-2019.pdf

NOB meetings rescheduled Hearing Room 1- NOB Department of Corrections Tax Credit Reviews: Pennsylvania Board of Probation and Film Production, New Jobs, Historic Parole Preservation Incentive Juvenile Court Judges' Commission 11:30 A.M. - 1:30 P.M. Pennsylvania Commission on

Hits: 1

PBB-Board-Hearing-Agenda-January 2019-Revised.pdf

Independent Fiscal Office Brenda Warburton, Deputy Director, Independent Fiscal Office 10:15am - 11:30am Review of Tax Credits (Film Production, New Jobs & Historical Preservation Incentive) Amy Gill, Deputy Secretary of Tax Policy, Department of Revenue Scott Dunkelberger, Executive Deputy Secretary, DCED

Hits: 1

PBB-Board Hearing Jan 23 2020.pptx

of enrollees up 25% for MA physical health ▪ Number receiving services up 13% for MA behavioral health ▪ Higher share of new mothers and children receive care Notably shorter processing times due to electronic submissions ▪ Nearly one-third reduction for MA application

Hits: 1

PBB Board Hearing Agenda- January 2019.pdf

Independent Fiscal Office Brenda Warburton, Deputy Director, Independent Fiscal Office 10:15am - 12:00pm Review of Tax Credits (Film Production, New Jobs & Historical Preservation Incentive) Amy Gill, Deputy Secretary of Tax Policy, Department of Revenue Scott Dunkelberger, Executive Deputy Secretary, DCED

Hits: 1

PA_Assoc_of_Community_Bankers_Presentation_2020_12.pdf

spending (redirected)  Excess supply in commercial real estate rental market  Less business travel, accommodation and dry cleaning services New spend patterns, more on-line sales and productivity gains = job loss  Grocery spending up ~+10% June to Nov | but

Hits: 1

PASBO_Feb_25_2021.pdf

secondary school ECI  IFO reduced ECI growth from 3.2% to 2.7% for FY 2020-21  Reasons: new actual data point for 2020 Q4 and revised US forecast  Interesting: dynamics driving SAWW do not appear to hold

Hits: 1

MTR-2019-07.pdf

CNIT), personal income tax (PIT) and inheritance tax. Sales and use tax (SUT) and realty transfer tax declined due to new or expanded transfers. July CNIT collections were $93.1 million, an increase of $18.4 million (24.6 percent) from

Hits: 1

MTR-2018-06.pdf

million slots license fee, (2) a $24.8 million table games certification fee, (3) $127 million from the auction of new casino licenses, (4) $1.5 billion in Tobacco Settlement Fund revenue bond proceeds and (5) $324 million from the leasing

Hits: 1

MRU-2020-3.pdf

year. Other tobacco products revenues are largely performing as expected for the year, after adjusting for the impact of the new federal age restriction on purchases (effective December 2019). Liquor tax collections displayed some weakness (-$2.6 million) for the month

Hits: 1

MQRE-FY18-19-July.pdf

projected to reduce FY 2018-19 PIT withholding collections by $15 mil- lion. Transfer to Retirement Systems for New Defined Contribution Plans (Act 42) The act requires PIT transfers of $4.9 million to the State Employee Retirement System (SERS) and

Hits: 1

Monthly_Economic_Update_July_2020.pdf

NYMEX Natural Gas Price at Lowest Level in Decades The average price of natural gas on the New York Mercantile Exchange (NYMEX), upon which the Pennsylvania impact fee is based, settled at $1.50 for July. This is

Hits: 1

Monthly_Economic_Update_December_2020.pdf

Gas Price Declines 21%, PA Impact Fee to Fall to Record Low The average price of natural gas on the New York Mercantile Exchange (NYMEX), upon which the Pennsylvania Impact Fee is based, settled at $2.08 for calendar year (CY

Hits: 1

Monthly_Economic_Update_August_2020.pdf

and other economic stimulus measures. Household Debt Declines for the First Time Since 2014 Q2 The Federal Reserve Bank of New York released household debt and credit data for 2020 Q2. Total household debt and credit card balances both declined from

Hits: 1

Monthly_Economic_Update_April_2020.pdf

by 46.2% over the prior year in Pennsylvania and 30.1% nationally. The year- over-year contraction in Pennsylvania new business applications is more severe than contractions realized during the Great Recession. While some of the decline in business applications

Hits: 1

Mid_Year_FY16-17_Presentation.pdf

lines of credit. Numbers in parentheses represent share of total consumer debt for 2016 Q3. Source: Federal Reserve Bank of New York. 25.Jan.2017 16 PA Consumer Debt Growth Year-Over-Year Growth Rates (Quarterlies) Tax Year Q1 Q2 Q3

Hits: 1

MER-2015-01.pdf

U.S. Energy Information Administration. 3/Pennsylvania Association of Realtors. 4/Federal Housing Finance Agency. 5/Federal Reserve Bank of New York. 2014.1 2014.2 2014.3 2014.4 -2.1% 4.6% 5.0% 2.6% 3.6% 3

Hits: 1

MER-2014-12.pdf

U.S. Energy Information Administration. 3/Pennsylvania Association of Realtors. 4/Federal Housing Finance Agency. 5/Federal Reserve Bank of New York. 2013.4 2014.1 2014.2 2014.3 3.5% ‐2.1% 4.6% 5.0% 0.1% 3

Hits: 1

MER-2014-09.pdf

delinquent. 3 Sources: 1/ U.S. Bureau of Economic Analysis. 2/ Federal Housing Finance Agency. 3/ Federal Reserve Bank of New York. 2013.3 2013.4 2014.1 2014.2 4.5% 3.5% ‐2.1% 4.6% 3.0% 0

Hits: 1

MER-2014-07.pdf

delinquent. 3 Sources: 1/ U.S. Bureau of Economic Analysis. 2/ Federal Housing Finance Agency. 3/ Federal Reserve Bank of New York. 2013.2 2013.3 2013.4 2014.1 1.8% 4.5% 3.5% ‐2.1% 2.6% 3

Hits: 1

MER-2013-12.pdf

delinquent. 3 Sources: 1/ U.S. Bureau of Economic Analysis. 2/ Federal Housing Finance Agency. 3/ Federal Reserve Bank of New York. 2012.4 2013.1 2013.2 2013.3 0.1% 1.1% 2.5% 4.1% 5.8% 2

Hits: 1

Medicaid_Expansion_Report_Note_on_Revisions.pdf

An Analysis of Medicaid Expansion in Pennsylvania May 13, 2013 Based on new information received after the release of its original report on Medicaid expansion, the Independent Fiscal Office has published a revision

Hits: 1

Initial_Estimate_May_2017_Press_Release.pdf

FOR IMMEDIATE RELEASE May 2, 2017 Independent Fiscal Office Releases Revenue Estimates (Harrisburg) - - The Independent Fiscal Office (IFO) today released new revenue estimates for FY 2016-17 and FY 2017-18, according to director Matthew Knittel. By statute, the office issues

Hits: 1

IFO_Retirement_Task_Force_Jan2018_Presentation.pdf

Since 2013, there have been 8,549 reverse mortgages completed. Source: "The Graying of American Debt," Federal Reserve Bank of New York. Fewer PA Seniors Own Home Outright Jan.25.2018 Independent Fiscal Office 14 Share of PA Homeowners w/o

Hits: 1

Grow PA 12.3.2019.pdf

Analysis, U.S. Bureau of Labor Statistics, Economic and Budget Outlook, IFO (Nov. 2019), Zillow, and Federal Reserve Bank of New York. CreationDate: 2019-12-02 19:52:52 Creator: Microsoft® Excel® 2016 ModDate: 2019-12-02 19:59:45 Producer

Hits: 1

GPNP July 10, 2012 final.pdf

US, All Debt PA, Mortgage Debt 2010 Q1 4.1% Share of Debt “Seriously Delinquent” Source: Federal Reserve Board of New York 10.Jul.2012 16 2012 GPNP Conference $200 $300 $400 $500 $600 2003 2005 2007 2009 2011 2013 $571

Hits: 1

Five_Year_Outlook_2015_Press_Release.pdf

potential imbalances of $1.1 billion for FY 2015- 16 and $2.4 billion for FY 2016-17.” Knittel said. “New policies or revised spending levels enacted with the FY 2015-16 budget will alter the projections.” The report evaluates the

Hits: 1

Economic_and_Revenue_Update_Presentation_August_2020.pdf

4 billion PUA paid  Injection of nearly $1 billion per week on average  Likely a large negative hit | new data are needed to assess Many lower wage jobs likely permanently lost  Increased automation | shifting spending patterns | less travel

Hits: 1

Economic_and_Revenue_Update_2020_10.pdf

term unemploy- ment. Many technical and structural factors support a scenario where lost jobs are not recovered including: new consumer spending patterns (e.g., more in-home dining), more online shopping, less travel, greater automation, more teleworking and reduced production capacity

Hits: 1

Econ Summit Presentation Feb 28 2017.pdf

Aircraft 160 Insurance Premiums Tax 142 Tax Reform Corporate – Combined Reporting 0 Corporate – Rate Reduction 0 Corporate – NOL Threshold 81 New Severance Tax – 6.5% 294 TOTAL $1,006 Note: millions of dollars. The combined reporting and lower corporate tax rate

Hits: 1

ACN_SB1_technical_corrections_2017_06_05.pdf

of compensation. Also on page 5, clarified that the final average salary limitation on voluntary overtime pay applies only to new hazardous duty employees. • On page 7, clarified the amortization starting dates for changes to the unfunded accrued liability of SERS

Hits: 1

2020_Mid_Year_Update.pdf

Source: Home sales and median home price from Zillow. House Price Index from Federal Housing Finance Agency. Debt data from New York Federal Reserve Board. Demographic Trends Cause Tight Labor Market January 28, 2020 6 Annual Change (000s) 2015 2016 2017

Hits: 1

2020 PBB Agenda.pdf

9:40 am 1. Business of the Board (Election of Chair and Vice Chair) 2. Recognition of Board Designees 3. New Business: Re‐Adopt Operating Rules 9:40 am – 9:45 am Overview of Plan Development Process and Review of Process

Hits: 1

2013-09 Monthly Economic Summary-FINAL.pdf

pa.us Sources: 1/ U.S. Bureau of Economic Analysis. 2/ Federal Housing Finance Agency. 3/ Fed. Res. Bank of New York. Monthly Economic Report S e p t e m b e r 2 0 1 3 2012.3 2012

Hits: 1

2013-05_Monthly_Economic_Summary.pdf

pa.us Sources: 1/ U.S. Bureau of Economic Analysis. 2/ Federal Housing Finance Agency. 3/ Fed. Res. Bank of New York. Monthly Economic Report M a y 2 0 1 3 2012.2 2012.3 2012.4 2013.1 1

Hits: 1

2013-04 Monthly Economic Report.pdf

pa.us Sources: 1/ U.S. Bureau of Economic Analysis. 2/ Federal Housing Finance Agency. 3/ Fed. Res. Bank of New York. Monthly Economic Report A p r i l 2 0 1 3 2012.1 2012.2 2012.3 2012

Hits: 1

2012-12 Monthly Economic Summary FINAL.pdf

6.6% Sources: 1/ U.S. Bureau of Economic Analysis. 2/ Federal Housing Financing Authority. 3/ Fed. Res. Bank of New York. 2012.3 3.0% 0.0% 5.3% Monthly Economic Report D e c e m b e r

Hits: 1

2012-10 Monthly Economic Summary FINAL.pdf

n.a. Sources: 1/ U.S. Bureau of Economic Analysis. 2/ Federal Housing Financing Authority. 3/ Fed. Res. Bank of New York. 2012.3 n.a. n.a. n.a. Monthly Economic Report O c t o b e r 2

Hits: 1

2012-09 Monthly Economic Summary 7.pdf

7.1% Sources: 1/ U.S. Bureau of Economic Analysis. 2/ Federal Housing Financing Authority. 3/ Federal Reserve Bank of New York. 2011.3 3.8% -1.1% 5.5% Monthly Economic Report S e p t e m b e

Hits: 1

2012-08 Monthly Economic Summary_Final.pdf

7.1% Sources: 1/ U.S. Bureau of Economic Analysis. 2/ Federal Housing Financing Authority. 3/ Federal Reserve Bank of New York. 2011.3 4.5% -1.1% 5.5% domestic profits’ share of GDP fails to surpass its pre-recession

Hits: 1

Email Subscription

IFO - Email Subscription IFO • Latest Releases • Data • Calendar • Right-to-Know • About • About IFO • Contact IFO • Email Subscription • Links • Follow on Twitter • • Email Subscription The IFO sends emails periodically to alert subscribers to new studies or reports that have been posted to the website. To begin receiving emails, please fill out the following form

Hits: 1