This report utilizes data from the U.S. Energy Information Administration to display recent trends for the Pennsylvania and regional electricity markets. The report examines recent trends in net generation, net exports, CO2 emissions and prices.
The Commonwealth collected $3.92 billion in General Fund revenues for January, an increase of $16 million compared to January 2024.
Director Knittel made a brief presentation at the NFIB Economic Forum.
Fiscal Analyst III Jesse Bushman gave a presentation to the Marcellus Shale Coalition regarding the Commonwealth’s economic and budget outlook and recent natural gas trends.
The Independent Fiscal Office (IFO) released a mid-year revenue update for fiscal year 2024-25 and provided an advance look at revenue projections for the next fiscal year. The IFO will update the estimate in its next round of revenue projections released in late May.
In response to a legislative request, the IFO transmitted a letter that updates a previous analysis on potential revenue sources that could replace school district property taxes if eliminated.
This research brief provides tabulations of child care industry employment, wages and average annual costs. For 2024 Q2, Pennsylvania private child care employment now exceeds pre-pandemic levels (2019 Q2) by 1,200 employees, while average industry wages increased significantly (31%). Child care costs vary widely depending on family income and access to the Child Care Works program.
The IFO will begin to project a five-year General Fund cost estimate as part of its pension analysis. This document uses proposed legislation from the 2023-2024 legislative session to detail the methodology used for those projections.
The Commonwealth collected $3.77 billion in General Fund revenues for December, an increase of $74 million (+2.0%) compared to December 2023.
This research brief provides tabulations of corporate net income tax return data for tax year 2021. For that year, 48 returns comprised nearly one quarter of tax liability, and 12.4% of taxable income was offset by net operating loss (NOL) deductions.