Utah Family Energy Costs as Percentage of After-Tax Income

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Utah Family Energy Costs as Percentage of After-Tax Income"

Transcription

1 Energy Cost Impacts on Utah Families, 2009 Energy prices, high unemployment, and stagnant incomes are straining the budgets of Utah s middle class, and impoverishing lower-income families. In 2009, Utah households with annual incomes below $50,000, representing 42% of Utah s population, spent an average of 14% of their after-tax income on energy. The poorest households earning less than $10,000, below the federal poverty line, spent more than 50%. 75% Utah Family Energy Costs as Percentage of After-Tax Income 50% 54% 25% 17% 12% 7% 0% <$10K $10-30K $30-$50K >$50K Annual Household Income March

2 Energy Cost Impacts on Utah Families, 2009 This paper assesses the impact of energy costs on Utah households in 2009, using energy consumption survey data and current energy price forecasts from the U.S. Department of Energy s Energy Information Administration (DOE/EIA). 1 Energy costs are summarized by household income group using Utah data from the U.S. Bureau of the Census. 2 Energy expenditures as a percentage of after-tax income are estimated for the effects of federal and state income taxes and federal social insurance payments. Key findings include: Measured in constant 1990 prices, residential electric rates in Utah are 28% lower than in 1990, while the price of residential natural gas is 5% above its 1990 level after several years of rapid increases. The relatively low cost of electric power is due in large part to Utah s historic reliance on domestic coal for the majority of its electric generation. In 2009, coal supplied more than 80% of the state s electricity generation. Energy costs are consuming the after-tax household incomes of Utah s low- and middle-income families at levels usually spent on food, housing, or health care. In 2009, Utah families spent an average of 8% of their after-tax incomes on energy. The 363,000 Utah households earning less than $50,000, representing 42% of households, allocated an average 14% of their after-tax income to energy. The 148,000 Utah households with annual incomes of $10,000 to $30,000, representing 17% of the state s population, spent 17% of their after-tax family budgets on energy. The 39,000 poorest families in Utah, below the federal poverty line and earning less than $10,000 per year, are being squeezed hardest by recent energy cost increases. Many of these families received state energy assistance to help reduce the burden of higher energy costs. Yet for most lower-income families and for more than 182,000 Utah households receiving Social Security, the critical choice today is between fuel and basic necessities such as food and rent. 2

3 Utah Household Incomes U.S. Census Bureau data on Utah household incomes in 2008 provide the basis for estimating the effects of energy prices on consumer budgets in The table below shows estimated 2008 after-tax incomes for Utah families in different income brackets. The Congressional Budget Office has calculated effective total federal tax rates, including individual income taxes and payments for social security and other social welfare programs. 4 State income taxes are estimated from current Utah income tax rates. 5 Utah households by pre-tax and after-tax income, 2008 Pre-tax annual income: <$10K $10-$30K $30-$50K >$50K Total/Avg. Households (Mil.) Pct. of total households 4.5% 17.3% 20.6% 57.5% 100.0% Avg. pre-tax income $4,991 $20,383 $40,132 $103,070 $71,271 Effec. fed tax rate % 2.0% 9.1% 14.1% 23.2% 17.9% Est. state tax rate % 1.0% 3.5% 4.3% 4.5% 4.1% Est. after-tax income $4,841 $17,815 $32,768 $74,519 $55,563 Some 42% of Utah families had estimated pre-tax incomes below $50,000 in After federal and state taxes, these families had average incomes of $24,265. In 2008, the median household income of Utah families was $56,633, compared with the U.S. median household income of $52,029. Utah s average household income of $71,271 was closely comparable to the national average of $71, Compared with the rest of the nation, Utah has a lower proportion of families living in poverty. 7 In 2008, 5.6% of Utah households received food stamp benefits within the past 12 months, compared with 8.6% nationally. Approximately 10% of Utah s population had incomes below the federal poverty line in 2008, compared with 13.2% nationally. Residential and Transportation Energy Expenses The principal residential energy expenses are for electricity and natural gas for home heating, cooling, and household appliances. Some Utah homes also use propane fuel and other heating sources such as wood. As shown in Chart 1, the price of residential electricity in Utah is 28% lower in real, inflation-adjusted terms than in 1990, while the price of residential natural gas is 5% above its 1990 price level after several years of rapid increases. The overall trend of electricity and gas prices underscores the volatility of natural gas prices compared with electric rates. 3

4 Chart 1 Gas $/tcf and Electric cents/kwh Utah Residential Natural Gas and Electricity Prices, YTD (Constant 1990 $) Nat'l Gas Electricity Source: U.S. DOE/EIA (2009 data through June). The inflation-adjusted 28% price decrease for residential electricity since 1990 reflects, in part, Utah s historic reliance on low-cost coal for a majority of its energy supplies. In 2009, coal supplied about 80% of the state s electric generation. 8 Estimated 2009 household energy expenses for Utah are based upon DOE/EIA residential electric and natural gas sales data. 9 Total household energy costs are distributed by income category using DOE/EIA residential energy survey data. Gasoline prices have declined from their 2008 peaks, but remain well above $2.50 per gallon. Gasoline accounts for the largest single increase in consumer energy costs since EIA reports 2009 average retail gasoline costs at $2.40 per gallon, compared with $1.47 per gallon in The increase in gas prices follows a decade-long trend of increased use of motor vehicles, measured in millions of vehicle miles driven annually, increased market shares of pickup trucks and SUVs, and an increase in the average number of vehicles owned per household. 10 Many families are burdened with low-efficiency vehicles with low trade-in values. DOE/EIA s 2001 Survey of Household Vehicles Energy Use (2005) provides information for estimating regional transportation energy costs by household income 4

5 category. These regional gasoline usage data are updated using EIA s 2009 national average retail gasoline price of $2.40 per gallon. To be conservative, household gasoline consumption in 2009 is assumed to remain at 2001 levels, reflecting the impact of the recession. The table below summarizes estimated Utah household energy expenses by income group, with the percentage of after-tax income consumed by energy costs: Estimated Utah household energy costs by income category, 2009 Pre-tax annual income: <$10K $10-$30K $30-$50K >$50K Average Residential energy $ $1,098 $1,201 $1,372 $1,724 $1,532 Electric $ $511 $595 $715 $886 $759 Natural Gas $ $497 $513 $556 $709 $619 Other* $ $90 $93 $101 $129 $112 Transport energy $ $1,522 $1,795 $2,496 $3,484 $2,899 Total energy $ $2,620 $2,997 $3,868 $5,208 $4,432 Energy % of after-tax 54% 17% 12% 7% 8% income *Other includes propane gas and wood. The share of household income spent for energy falls disproportionately on lower-income and working families earning less than $50,000 per year. The 17% of Utah households earning between $10,000 and $30,000 annually spent on average 17% of their after-tax incomes on energy. While many low-income consumers qualify for energy assistance, these government programs are hard pressed to keep pace with the rapid escalation of energy prices. It is primarily the poor, fixed income, and other low-income families who are bearing the greatest burden of higher energy prices. In 2009, the average Utah family with an after-tax income of $55,563 spent $4,432 on energy, or 8% of the family budget. The 363,000 Utah households earning less than $50,000 - representing 42% of households - allocated an average of 14% of their after-tax income to energy. For a majority of Utah s low- and middle-income families, energy costs today are consuming a fraction of after-tax household income comparable to that traditionally spent on major categories such as food or health care. 11 A 2001 survey of middleincome families with two parents and two children living in eight diverse U.S. cities reported the following average expenditures, based on an average after-tax family income of $43,962: Child care - $12,420 (28%) Housing - $10,836 (25%) Food - $7,044 (16%) 5

6 Health care - $4,582 (10%) The diversion of increased shares of family incomes to energy reduces available funds for other necessities of life such as housing and health care, diminishing both quality of life and the ability to save and invest for future needs. Disproportionate Impacts on Senior Citizens The greatest burdens of increased energy costs are falling on Utah s 182,000 households of elderly Social Security recipients - 21% of all households - who depend mainly on fixed incomes, with limited opportunity to increase earnings from employment. In 2008, these households had an average Social Security income of $15, Approximately 132,000 of these 182,000 households had additional retirement income averaging $22,077. Elderly individuals with low average annual incomes are more vulnerable to increasing energy costs even if their energy consumption levels are below those for households with similar annual incomes. Unlike young working families with the potential to increase incomes by taking on part-time work or increasing overtime, fixed income seniors are largely limited to cost-of-living increases that often do not keep pace with rising energy prices. Maintaining relative stability in electric and gas rates, and increasing low-income energy assistance, are critical to the wellbeing of hundreds of thousands of Utah s low-income citizens. Conclusion The prices of petroleum-based fuels have increased significantly in the past decade, while the residential cost of electricity has not kept pace with inflation. The escalation of Utah consumer energy prices - together with sluggish income growth among middle-income households and rising unemployment - underscore the need to find ways to reduce energy cost impacts on Utah families. Expanding the use of our domestic coal resources, a primary source of low-cost electric energy generation in Utah, is an immediate, common-sense policy response available to Utah officials and to the U.S. Government. Acknowledgment: This paper was prepared for ACCCE by Eugene M. Trisko, an energy economist and attorney in private practice. Mr. Trisko has served as an attorney in the Bureau of Consumer Protection at the Federal Trade Commission and as an expert economic witness before state public utility commissions. He represents labor and industry clients in environmental and energy matters. Mr. Trisko can be contacted at 6

7 End Notes 1 Data on residential energy consumption patterns by income category are from U.S. Department of Energy, Energy Information Administration, 2005 Survey of Residential Energy Consumption (2009), available at Utah electricity, natural gas and other residential energy costs are based on 2008 and 2009 state data from U.S. DOE/EIA Electric Power Monthly (September 2009), Natural Gas Monthly (September 2009) and other sources noted below. 2 Household incomes in Utah by income category are derived from the distribution of household income in U.S. Census Bureau, American Fact Finder, Utah Selected Economic Characteristics: 2008 (2009). 3 Ibid. 4 Congressional Budget Office, Effective Federal Tax Rates Under Current Law, 2001 to 2014, (August 2004). Effective federal tax rates for the income categories employed in this paper were interpolated from CBO s tax rates by income quintile. 5 State tax data are estimated from marginal tax rates compiled by the Tax Foundation (2009). 6 U.S. Bureau of the Census, Utah Selected Economic Characteristics: 2008 (2009). 7 Ibid. 8 U.S. DOE/EIA, Electric Power Monthly (September 2009), Tables 1.6.B, 1.7B (2009 electricity estimate annualized based on June 2009 YTD generation.) 9 U.S. DOE/EIA, Electric Power Monthly (September 2009, annualized based on June 2009 YTD electric sales) and Natural Gas Monthly (Utah actual 2008 residential natural gas sales are used, reduced by 11% based on EIA s estimate of national residential gas price changes for 2009 compared with 2008.) 10 U.S. DOT, 2001 National Household Travel Survey, Summary of Travel Trends, (December 2004). 11 Economic Policy Institute, Basic Family Budgets, Briefing Paper (2001), available at 12 U.S. Bureau of the Census, Utah Selected Economic Characteristics: 2008 (2009). 7

Energy Cost Impacts on Colorado Families

Energy Cost Impacts on Colorado Families Energy Cost Impacts on Colorado Families Energy prices, unemployment, and stagnant incomes are straining the budgets of Colorado s lower- and middle-class families. Colorado households with annual incomes

More information

Energy Cost Impacts on North Carolina Families

Energy Cost Impacts on North Carolina Families Energy Cost Impacts on North Carolina Families Energy prices, high unemployment, and declining incomes are straining the budgets of North Carolina s lower- and middle-class families. North Carolina households

More information

Energy Cost Impacts on Michigan Families

Energy Cost Impacts on Michigan Families Energy Cost Impacts on Michigan Families Energy prices continue to strain the budgets of Michigan s lower- and middleclass families. Michigan households with annual incomes below $50,000, representing

More information

Estimated U.S. household energy costs as percentage of after tax income

Estimated U.S. household energy costs as percentage of after tax income Energy Cost Impacts on American Families Rising electricity prices and declining family incomes are straining the budgets of America s lower- and middle-income families. U.S. households with pre-tax annual

More information

Energy Cost Impacts on American Families, 2001-2014

Energy Cost Impacts on American Families, 2001-2014 Energy Cost Impacts on American Families, 2001-2014 2001 2009 2014 Proj. 23% 26% 14% 16% 7% 8%

More information

Rising Energy Costs Harm Mississippi's Senior Citizens

Rising Energy Costs Harm Mississippi's Senior Citizens Rising Energy Costs Harm Mississippi's Senior Citizens Overview Energy, like food and housing, is an indispensable necessity of life. In Mississippi's hot climate, air conditioning is essential to the

More information

Short-Term Energy Outlook Supplement: Summer 2013 Outlook for Residential Electric Bills

Short-Term Energy Outlook Supplement: Summer 2013 Outlook for Residential Electric Bills Short-Term Energy Outlook Supplement: Summer 2013 Outlook for Residential Electric Bills June 2013 Independent Statistics & Analysis www.eia.gov U.S. Department of Energy Washington, DC 20585 This report

More information

CBO STAFF DISTRIBUTIONAL EFFECTS OF SUBSTITUTING A FLAT-RATE INCOME TAX AND AVALUE-ADDEDTAXFORCURRENT FEDERAL INCOME, PAYROLL, AND EXCISE TAXES

CBO STAFF DISTRIBUTIONAL EFFECTS OF SUBSTITUTING A FLAT-RATE INCOME TAX AND AVALUE-ADDEDTAXFORCURRENT FEDERAL INCOME, PAYROLL, AND EXCISE TAXES CBO STAFF MEMORANDUM DISTRIBUTIONAL EFFECTS OF SUBSTITUTING A FLAT-RATE INCOME TAX AND AVALUE-ADDEDTAXFORCURRENT FEDERAL INCOME, PAYROLL, AND EXCISE TAXES April 1992 CONGRESSIONAL BUDGET OFFICE SECOND

More information

Facts and Figures on the Middle-Class Squeeze in Idaho

Facts and Figures on the Middle-Class Squeeze in Idaho Facts and Figures on the Middle-Class Squeeze in Idaho For hard-working, middle-class families all over the country, life during the Bush presidency has grown less affordable and less secure. President

More information

Executive Summary. 204 N. First St., Suite C PO Box 7 Silverton, OR 97381 www.ocpp.org 503-873-1201 fax 503-873-1947

Executive Summary. 204 N. First St., Suite C PO Box 7 Silverton, OR 97381 www.ocpp.org 503-873-1201 fax 503-873-1947 Executive Summary 204 N. First St., Suite C PO Box 7 Silverton, OR 97381 www.ocpp.org 503-873-1201 fax 503-873-1947 On Whose Backs? Tax Distribution, Income Inequality, and Plans for Raising Revenue By

More information

13.8% Inflation-adjusted GDP (billions) Cumulative growth 2009 to Q3 2015. Exhibit 1 Steady U.S. Economic Growth After a Severe Recession $17,000

13.8% Inflation-adjusted GDP (billions) Cumulative growth 2009 to Q3 2015. Exhibit 1 Steady U.S. Economic Growth After a Severe Recession $17,000 Exhibit 1 Steady U.S. Economic Growth After a Severe Recession Inflation-adjusted GDP (billions) $17,000 $16,000 $15,000 $14,000 $13,000 13.8% Cumulative growth 2009 to Q3 2015 $12,000 $11,000 $10,000

More information

Displacement of Coal with Natural Gas to Generate Electricity

Displacement of Coal with Natural Gas to Generate Electricity Displacement of Coal with Natural Gas to Generate Electricity The American Coalition for Clean Coal Electricity (ACCCE) supports a balanced energy strategy that will ensure affordable and reliable energy,

More information

RENTAL HOUSING AFFORDABILITY

RENTAL HOUSING AFFORDABILITY RENTAL HOUSING AFFORDABILITY With income growth lagging behind the persistent rise in rents, the number of renter households spending disproportionate shares of their incomes for housing hit a new high

More information

Issue Brief: California Compared Fuel Taxes and Fees

Issue Brief: California Compared Fuel Taxes and Fees Issue Brief: California Compared Fuel Taxes and Fees California Compared Fuel Taxes and Fees Why are California Gasoline Prices Higher and more Variable than other States? Although price levels rise and

More information

The primary purpose of a tax system is to support public goods and services. State and local taxes

The primary purpose of a tax system is to support public goods and services. State and local taxes Issue Brief UPDATED APRIL 2015 BY WILLIAM CHEN Who Pays Taxes in California? The primary purpose of a tax system is to support public goods and services. State and local taxes are the way that Californians

More information

NATion and north carolina

NATion and north carolina Energy Challenges for the NATion and north carolina NOIA s mission is to secure reliable access to the nation s valuable offshore energy resources in order that they may be developed, produced and supplied

More information

United States Progress Report on Fossil Fuel Subsidies Part 1: Identification and Analysis of Fossil Fuel Provisions

United States Progress Report on Fossil Fuel Subsidies Part 1: Identification and Analysis of Fossil Fuel Provisions A. Production Fossil Fuel Subsidies United States Progress Report on Fossil Fuel Subsidies Part 1: Identification and Analysis of Fossil Fuel Provisions There are a number of tax preferences, described

More information

Jobs and Growth Effects of Tax Rate Reductions in Ohio

Jobs and Growth Effects of Tax Rate Reductions in Ohio Jobs and Growth Effects of Tax Rate Reductions in Ohio BY ALEX BRILL May 2014 This report was sponsored by American Freedom Builders, Inc., a 501(c)4 organization. The author is solely responsible for

More information

Economic Snapshot for February 2013

Economic Snapshot for February 2013 Economic Snapshot for February 2013 Christian E. Weller on the State of the Economy Christian E. Weller, associate professor, Department of Public Policy and Public Affairs, University of Massachusetts

More information

More Californians Living in Poverty, Losing Job-Based Health Coverage

More Californians Living in Poverty, Losing Job-Based Health Coverage FOR IMMEDIATE RELEASE CONTACT: Lisa Gardiner (916) 444-0500 September 10, 2009 More ns Living in Poverty, Losing Job-Based Health Coverage New Data Highlight Need for More Federal Aid and Comprehensive

More information

CONGRESS OF THE UNITED STATES CONGRESSIONAL BUDGET OFFICE CBO. The Distribution of Household Income and Federal Taxes, 2008 and 2009

CONGRESS OF THE UNITED STATES CONGRESSIONAL BUDGET OFFICE CBO. The Distribution of Household Income and Federal Taxes, 2008 and 2009 CONGRESS OF THE UNITED STATES CONGRESSIONAL BUDGET OFFICE Percent 70 The Distribution of Household Income and Federal Taxes, 2008 and 2009 60 50 Before-Tax Income Federal Taxes Top 1 Percent 40 30 20 81st

More information

Household Energy Expenditure: Measures es off Hardship & Changes in Income

Household Energy Expenditure: Measures es off Hardship & Changes in Income : Measures es off Hardship & Changes in Income By Professor or Sue Richardson Associate Professor or Peter Travers The National Institute of Labour Studies February, 2004 4 Table of Contents HOUSEHOLD

More information

Household Debt in the U.S.: 2000 to 2011

Household Debt in the U.S.: 2000 to 2011 Household Debt in the U.S.: 2000 to 2011 By Marina Vornovytskyy, Alfred Gottschalck, and Adam Smith Debt is an important financial tool used by U.S. households to finance their purchases. Households often

More information

The following reports were prepared independent of the

The following reports were prepared independent of the september 2012 173 APPENDIX H Independent Analysis of Economic Forecasts and Sales Tax Revenue The following reports were prepared independent of the Wake County Transit Plan, but are included here for

More information

Are we being asked to pay enough to support our national highway and transit network?

Are we being asked to pay enough to support our national highway and transit network? Are we being asked to pay enough to support our national highway and transit network? Highlights: Last year, the average American driver traveled 11,400 miles in their car or light truck, bought 529 gallons

More information

Facts. America s Direct-Care Workforce

Facts. America s Direct-Care Workforce November 2013 Update Facts 3 America s Direct-Care Workforce irect-care workers provide an estimated 70 to 80 percent of the paid hands-on long-term care and personal assistance received by Americans who

More information

Time for a Shared Recovery

Time for a Shared Recovery Time for a Shared Recovery Using the Census Data to Show the Harmful and Needless Needless Persistence of Poverty August 19, 2008 1 PART III 21 Deborah Weinstein Executive Director, Coalition on Human

More information

Changes in Health Insurance Coverage in the Great Recession, 2007-2010 John Holahan and Vicki Chen The Urban Institute Executive Summary

Changes in Health Insurance Coverage in the Great Recession, 2007-2010 John Holahan and Vicki Chen The Urban Institute Executive Summary I S S U E P A P E R kaiser commission on medicaid and the uninsured Changes in Health Insurance Coverage in the Great Recession, 2007-2010 John Holahan and Vicki Chen The Urban Institute Executive Summary

More information

An Agenda for College Affordability and Degree Completion

An Agenda for College Affordability and Degree Completion MINNESOTA PRIVATE COLLEGE COUNCIL An Agenda for College Affordability and Degree Completion I. The Case for Investing in Higher Education Minnesota benefits from our current above-average level of educational

More information

Between 1986 and 2010, homeowners and renters. A comparison of 25 years of consumer expenditures by homeowners and renters.

Between 1986 and 2010, homeowners and renters. A comparison of 25 years of consumer expenditures by homeowners and renters. U.S. BUREAU OF LABOR STATISTICS OCTOBER 2012 VOLUME 1 / NUMBER 15 A comparison of 25 years of consumer expenditures by homeowners and renters Author: Adam Reichenberger, Consumer Expenditure Survey Between

More information

THE GROWING COST OF HEALTH INSURANCE COVERAGE HEALTH CARE COSTS AND SPENDING IN NEW YORK STATE

THE GROWING COST OF HEALTH INSURANCE COVERAGE HEALTH CARE COSTS AND SPENDING IN NEW YORK STATE S E C T I O N THE GROWING COST OF HEALTH INSURANCE COVERAGE 18 The Growing Cost of Health Insurance Coverage New York s large employers contribute higher shares of premium costs than employers in any other

More information

Chapter VI: Public Benefits of Higher Education

Chapter VI: Public Benefits of Higher Education ` Chapter VI: Public Benefits of Higher Education ` Higher education opens the door to more jobs in today s economy The number of jobs requiring higher levels of education has increased substantially,

More information

CARBON TAX CHAD STONE

CARBON TAX CHAD STONE CARBON TAX A climate rebate delivered through the existing tax and benefit systems can shield low- and moderate-income households from the impact of higher energy prices under a carbon tax. CHAD STONE

More information

a topic for a future issue brief, please Minnesota is heading into challenging territory. In the decades

a topic for a future issue brief, please Minnesota is heading into challenging territory. In the decades RESEARCH BRIEF September 2011 Minnesota Educational Needs and Higher Education Finance Policy This is one in a series of research-based briefs prepared by the Minnesota Private College Council for members

More information

Wisconsin s Direct-Care Workforce Wisconsin s direct-care workers are the state s frontline paid caregivers providing

Wisconsin s Direct-Care Workforce Wisconsin s direct-care workers are the state s frontline paid caregivers providing State Facts December 2011 Wisconsin s Direct-Care Workforce Wisconsin s direct-care workers are the state s frontline paid caregivers providing daily living services and supports to persons with disabilities

More information

AFFORDABILITY CRI$IS

AFFORDABILITY CRI$IS RECLAIM NEW Y ORK Center For Government Reform & Accountability NEW YORK AFFORDABILITY CRI$IS Long Island Edition METHODOLOGY RECLAIM NEW YORK Affordability Crisis Methodology Income Tax Calculation Methodology

More information

September 14, 2011. Several facts stand out from the new Census data:

September 14, 2011. Several facts stand out from the new Census data: 820 First Street NE, Suite 510 Washington, DC 20002 Tel: 202-408-1080 Fax: 202-408-1056 center@cbpp.org www.cbpp.org September 14, 2011 POVERTY RATE SECOND-HIGHEST IN 45 YEARS; RECORD NUMBERS LACKED HEALTH

More information

S~OPP MASTER ..- DISTRIBUTION OF THIS DOCUMENT IS UNLIMITED

S~OPP MASTER ..- DISTRIBUTION OF THIS DOCUMENT IS UNLIMITED S~OPP..- DISTRIBUTION OF THIS DOCUMENT IS UNLIMITED f MASTER DISCLAIMER Portions of this document may be illegible in electronic image products. Images are produced from the best available original document.

More information

POVERTY AND THE BURDEN OF ELECTRICITY COSTS IN THE SOUTHEAST:

POVERTY AND THE BURDEN OF ELECTRICITY COSTS IN THE SOUTHEAST: POVERTY AND THE BURDEN OF ELECTRICITY COSTS IN THE SOUTHEAST: The Case for Utility Home Energy Efficiency Loan and Tariff Programs Analysis by: Rory McIlmoil, Energy Policy Director (828) 262-1500 February

More information

NOIA s mission is to secure reliable access to the nation s valuable. and supplied in an environmentally responsible manner.

NOIA s mission is to secure reliable access to the nation s valuable. and supplied in an environmentally responsible manner. Energy Challenges for wisconsin and the NATion NOIA s mission is to secure reliable access to the nation s valuable offshore energy resources in order that they may be developed, produced and supplied

More information

MINIMUM WAGES AND THE CALIFORNIA ECONOMY

MINIMUM WAGES AND THE CALIFORNIA ECONOMY SEPTEMBER SEPT 2005 2005 I I R P O L I C Y B R I E F MINIMUM WAGES AND THE CALIFORNIA ECONOMY The Economic Impact of AB 48 IIR INSTITUTE OF INDUSTRIAL RELATIONS UNIVERSITY OF CALIFORNIA, BERKELEY MICHAEL

More information

Joint Channel Forecast Model 2015 Conducted by IHS-Polk

Joint Channel Forecast Model 2015 Conducted by IHS-Polk Joint Channel Forecast Model 2015 Conducted by IHS-Polk A collaborative effort between the Automotive Aftermarket Suppliers Association and Auto Care Association About the Joint Channel Forecast Model

More information

Main Street. Economic information. By Jason P. Brown, Economist, and Andres Kodaka, Research Associate

Main Street. Economic information. By Jason P. Brown, Economist, and Andres Kodaka, Research Associate THE Main Street ECONOMIST: ECONOMIST Economic information Agricultural for the and Cornhusker Rural Analysis State S e Issue p t e m b2, e r 214 2 1 Feed de er ra al l RR e es se er rv ve e BBa an nk k

More information

Two miles per day may not seem like much, but do the math.

Two miles per day may not seem like much, but do the math. February 2008 Chicago sgreen Dividend Joe Cortright jcortright@impresaconsulting.com Senior Policy Advisor, CEOs for Cities Chicago has placed an increasing emphasis on pursuing green policies in recent

More information

West Virginia Children and Families Funding Study

West Virginia Children and Families Funding Study West Virginia Children and Families Funding Study Update and Report on Nine Year Trends in Public Expenditures FY 1999 through FY 2007 June, 2009 Supported By: Division of Criminal Justice Services / Department

More information

Why Some Tax Units Pay No Income Tax

Why Some Tax Units Pay No Income Tax Why Some Tax Units Pay No Income Tax Rachel Johnson, James Nunns, Jeffrey Rohaly, Eric Toder, Roberton Williams Urban-Brookings Tax Policy Center July 2011 ABSTRACT About 46 percent of American households

More information

APPENDIX A The PSID Sample and Family Income

APPENDIX A The PSID Sample and Family Income 1 APPENDIX A The PSID Sample and Family Income The sample for this analysis is 2,367 individuals who were between the ages of 0 and 18 in 1968 and have been tracked into adulthood through the Panel Study

More information

Benjamin Franklin observed that nothing in life is certain except

Benjamin Franklin observed that nothing in life is certain except Middle-Income Tax Rates: Trends and Prospects By Troy A. Davig and C. Alan Garner Benjamin Franklin observed that nothing in life is certain except death and taxes. But he was referring to the existence

More information

New Estimates Of Personal Taxes In Consumer Expenditure Survey

New Estimates Of Personal Taxes In Consumer Expenditure Survey APRIL 2015 New Estimates Of Personal Taxes In Consumer Expenditure Survey Aaron E. Cobet The Consumer Expenditure Survey provides information on the buying habits of American consumers, their income, and

More information

Executive Summary The Macroeconomic Effects of an Add-on Value Added Tax

Executive Summary The Macroeconomic Effects of an Add-on Value Added Tax The Macroeconomic Effects of an Add-on Value Added Tax Prepared for the National Retail Federation Prepared by Drs. Robert Carroll, Robert Cline, and Tom Neubig Ernst & Young LLP and Drs. John Diamond

More information

LIHEAP Energy Burden Evaluation Study

LIHEAP Energy Burden Evaluation Study LIHEAP Burden Evaluation Study Final Report Prepared for: Division of Assistance Office of Community Services Administration for Children and Families U.S. Department of Health and Human Services PSC Order

More information

Massachusetts $ Savings and Job Gains from Energy Efficiency in Buildings & Transportation

Massachusetts $ Savings and Job Gains from Energy Efficiency in Buildings & Transportation Massachusetts $ Savings and Job Gains from Energy Efficiency in Buildings & Transportation Marc Breslow, Ph.D. Director of Transportation & Buildings Policy Executive Office of Energy & Environmental Affairs

More information

Taxes and Income: Where Does Kentucky Stand?

Taxes and Income: Where Does Kentucky Stand? Taxes and Income: Where Does Stand? William H. Hoyt Much recent debate has focused on the substantial tax burden on lower-income households in relative to other states and relative to higher-income households

More information

1960-61. United States

1960-61. United States 61-61 United States By, the U.S. population had surpassed 179 million, a gain of 19.0 percent from. The median age had decreased to 29.5 (28.7 for men and.3 for women), the first decline since 1900. The

More information

! At least 3.1 million women raising children as a single parent, or 36% of all single mothers, will receive no tax benefit from the Bush plan.

! At least 3.1 million women raising children as a single parent, or 36% of all single mothers, will receive no tax benefit from the Bush plan. March 5, 2001 Women and Children Last: The Bush Tax Cut Plan The President has proposed a tax cut plan that fails to offer any benefits to the lowestincome families, most of whom are headed by women and

More information

HW 2 Macroeconomics 102 Due on 06/12

HW 2 Macroeconomics 102 Due on 06/12 HW 2 Macroeconomics 102 Due on 06/12 1.What are the three important macroeconomic goals about which most economists, and society at large, agree? a. economic growth, full employment, and low interest rates

More information

IMPACTS OF EPA S CARBON PROPOSAL ON COLORADO

IMPACTS OF EPA S CARBON PROPOSAL ON COLORADO IMPACTS OF EPA S CARBON PROPOSAL ON COLORADO BACKGROUND In 2013, coal provided 64% of Colorado s electricity, with natural gas providing 20%, renewables 14%, and other sources providing the remaining 2%.

More information

07 14 BUSINESS-CYCLE CONDITIONS Gas Prices Not a Risk to Growth by Robert Hughes, Senior Research Fellow

07 14 BUSINESS-CYCLE CONDITIONS Gas Prices Not a Risk to Growth by Robert Hughes, Senior Research Fellow 7 14 BUSINESS-CYCLE CONDITIONS Gas Prices Not a Risk to Growth by Robert Hughes, Senior Research Fellow Gas prices 15 percent jump in six months may be painful at the pump but is moderate by historical

More information

How Tax Reform will Help Hong Kong s Long-Term. Sustainable Development? Mr Frederick Ma, Secretary for Financial Services and the.

How Tax Reform will Help Hong Kong s Long-Term. Sustainable Development? Mr Frederick Ma, Secretary for Financial Services and the. How Tax Reform will Help Hong Kong s Long-Term Sustainable Development? Mr Frederick Ma, Secretary for Financial Services and the Treasury Since the SAR Government launched its public consultation on proposals

More information

Strategic Planning for Economic Development. Social and Demographic Profile. April-May, 2012

Strategic Planning for Economic Development. Social and Demographic Profile. April-May, 2012 Envisioning Mount Hope Strategic Planning for Economic Development Social and Demographic Profile April-May, 2012 Department of Agricultural Economics Kansas State Research and Extension www.ksu-olg.info

More information

Economic Impact of Changing Electricity Suppliers in the City of Socorro

Economic Impact of Changing Electricity Suppliers in the City of Socorro UNM Bureau of Business & Economic Research 1 University of New Mexico MSC06 3510 Albuquerque, NM 87131-0001 (505) 277-2216 http://bber.unm.edu/ Economic Impact of Changing Electricity Suppliers in the

More information

RESIDENTIAL AND COMMERCIAL/INSTITUTIONAL NATURAL GAS AND LIQUEFIED PETROLEUM GAS (LPG) COMBUSTION

RESIDENTIAL AND COMMERCIAL/INSTITUTIONAL NATURAL GAS AND LIQUEFIED PETROLEUM GAS (LPG) COMBUSTION RESIDENTIAL AND COMMERCIAL/INSTITUTIONAL NATURAL GAS AND LIQUEFIED PETROLEUM GAS (LPG) COMBUSTION DESCRIPTION This source category covers air emissions from natural gas and liquefied petroleum gas (LPG)

More information

White Paper. Understanding California s Electricity Prices

White Paper. Understanding California s Electricity Prices White Paper Understanding California s Electricity Prices Executive Summary Most industry experts predict that average electricity prices throughout the U.S. will increase significantly over the next decade.

More information

Lake County. Government Finance Study. Supplemental Material by Geography. Prepared by the Indiana Business Research Center

Lake County. Government Finance Study. Supplemental Material by Geography. Prepared by the Indiana Business Research Center County Government Finance Study Supplemental Material by Geography Prepared by the Indiana Business Research www.ibrc.indiana.edu for Sustainable Regional Vitality www.iun.edu/~csrv/index.shtml west Indiana

More information

Overview 3 Electricity price increases 4 Capital and operating expenditure 6 Demand side management 7 Issues with sales/demand forecasts 8

Overview 3 Electricity price increases 4 Capital and operating expenditure 6 Demand side management 7 Issues with sales/demand forecasts 8 Overview 3 Electricity price increases 4 Capital and operating expenditure 6 Demand side management 7 Issues with sales/demand forecasts 8 2 Business SA is the State s leading business organisation, representing

More information

Who lives in New Orleans and the metro area now? Based on 2012 U.S. Census Bureau data

Who lives in New Orleans and the metro area now? Based on 2012 U.S. Census Bureau data Who lives in New Orleans and the metro area now? Based on 2012 U.S. Census Bureau data Vicki Mack and Elaine Ortiz, Greater New Orleans Community Data Center September 26, 2013 This brief examines 2012

More information

ON LABOUR AND INCOME. JUNE 2002 Vol. 3, No. 6 HOUSING: AN INCOME ISSUE PENSIONS: IMMIGRANTS AND VISIBLE MINORITIES.

ON LABOUR AND INCOME. JUNE 2002 Vol. 3, No. 6 HOUSING: AN INCOME ISSUE PENSIONS: IMMIGRANTS AND VISIBLE MINORITIES. Catalogue no. 75-001-XIE ON LABOUR AND INCOME JUNE 2002 Vol. 3, No. 6 HOUSING: AN INCOME ISSUE PENSIONS: IMMIGRANTS AND VISIBLE MINORITIES Statistics Canada Statistique Canada Sophie Lefebvre HOUSING IS

More information

Social Security: Vital to Retirement Security for 35 Million Women and Men

Social Security: Vital to Retirement Security for 35 Million Women and Men IWPR Publication #D487 March 2010 Social Security: Vital to Retirement Security for 35 Million Women and Men Jeff Hayes, Heidi Hartmann, and Sunhwa Lee This Briefing Paper examines major sources of income

More information

June 18, 2013 Ways and Means Human Resources Subcommittee Hearing:

June 18, 2013 Ways and Means Human Resources Subcommittee Hearing: Statement for the Record: June 18, 2013 Ways and Means Human Resources Subcommittee Hearing: MORE SPENDING, LESS REAL HELP: REVIEWING HOW TODAY S FRAGMENTED WELFARE SYSTEM FAILS TO LIFT UP POOR FAMILIES

More information

FUNDING FOR THE TANF PROGRAM IN MASSACHUSETTS

FUNDING FOR THE TANF PROGRAM IN MASSACHUSETTS FUNDING FOR THE TANF PROGRAM IN MASSACHUSETTS A Look at Revenue and Spending on Supports for Low-Income Families August 2014 Revised, February 2015 Nancy Wagman, Kids Count Project Director Massachusetts

More information

How Proposed Cuts in Vital Services Will Hurt New Jersey

How Proposed Cuts in Vital Services Will Hurt New Jersey How Proposed Cuts in Vital Services Will Hurt New Jersey January 12, 2006 On February 1, 2006, the U.S. House of Representatives is scheduled to take up legislation cutting $40 billion in health care,

More information

Elders Living on the Edge. The Impact of California Support Programs When Income Falls Short in Retirement

Elders Living on the Edge. The Impact of California Support Programs When Income Falls Short in Retirement Elders Living on the Edge The Impact of California Support Programs When Income Falls Short in Retirement Elders Living on the Edge The Impact of California Support Programs When Income Falls Short in

More information

Investment Symposium March 14-15, 2013 New York, NY. Session E5, U.S. Economic Conditions and the Housing/Mortgage Market

Investment Symposium March 14-15, 2013 New York, NY. Session E5, U.S. Economic Conditions and the Housing/Mortgage Market Investment Symposium March 1-15, 213 New York, NY Session E5, U.S. Economic Conditions and the Housing/Mortgage Market Moderator: Jonathan Glowacki Presenter: David Berson Housing & Mortgage Market Outlook

More information

NORTH CAROLINA'S RELATIVE TAX BURDEN

NORTH CAROLINA'S RELATIVE TAX BURDEN NORTH CAROLINA'S RELATIVE TAX BURDEN Dr. Michael L. Walden It is important for public policymakers to know the tax burden of North Carolina, and how North Carolina's tax burden compares to those of other

More information

Creating Opportunity or Entrenching Disadvantage? ACT Labour Market Data

Creating Opportunity or Entrenching Disadvantage? ACT Labour Market Data Creating Opportunity or Entrenching Disadvantage? ACT Labour Market Data October 2014 About ACTCOSS ACTCOSS acknowledges Canberra has been built on the land of the Ngunnawal people. We pay respects to

More information

Sonoma County Economic Development Board BUSINESS BAROMETER

Sonoma County Economic Development Board BUSINESS BAROMETER BUSINESS BAROMETER September 2006 In This Month s Report: Newly revised employment data shows that Sonoma County added 3,000 jobs in the 12-month period ending July 2006. The seasonally adjusted unemployment

More information

MBA Forecast Commentary Joel Kan, jkan@mba.org

MBA Forecast Commentary Joel Kan, jkan@mba.org MBA Forecast Commentary Joel Kan, jkan@mba.org Weak First Quarter, But Growth Expected to Recover MBA Economic and Mortgage Finance Commentary: May 2015 Broad economic growth in the US got off to a slow

More information

Economic and Electricity Demand Analysis and. Comparison of the Council s 1995 Forecast to Current Data

Economic and Electricity Demand Analysis and. Comparison of the Council s 1995 Forecast to Current Data Economic and Electricity Demand Analysis and Comparison of the Council s 1995 Forecast to Current Data By Debbie Hollen, Research Associate, BPA 1 September, 21 Introduction Energy is a critical component

More information

Upon closer analysis, however, there are circumstances when renting a car instead of driving your own may indeed be the economically wise choice.

Upon closer analysis, however, there are circumstances when renting a car instead of driving your own may indeed be the economically wise choice. Summary The decision to rent a vehicle vs. using the one in your garage for a weekend getaway is often shaped by such factors as the need for a different size or a more attractive appearance. But when

More information

New Mexico. Comparison Profile prepared by the New Mexico Economic Development Department State Data Center. Page 1 of 5

New Mexico. Comparison Profile prepared by the New Mexico Economic Development Department State Data Center. Page 1 of 5 DEMOGRAPHICS Population estimates, July 1, 2014 2,085,572 Population, percent change - April 1, 2010 to July 1, 2014 1.4% Population estimates, July 1, 2013 2,085,287 Population, percent change - April

More information

Responses to Misleading and Inaccurate Beer Industry Propaganda on Excise Taxes

Responses to Misleading and Inaccurate Beer Industry Propaganda on Excise Taxes Responses to Misleading and Inaccurate Beer Industry Propaganda on Excise Taxes Forty four percent of the retail price of beer is now consumed by taxes. The ʺ44 percentʺ calculation deceptively includes

More information

Volume URL: http://www.nber.org/books/feld87-2. Chapter Title: Individual Retirement Accounts and Saving

Volume URL: http://www.nber.org/books/feld87-2. Chapter Title: Individual Retirement Accounts and Saving This PDF is a selection from an out-of-print volume from the National Bureau of Economic Research Volume Title: Taxes and Capital Formation Volume Author/Editor: Martin Feldstein, ed. Volume Publisher:

More information

Bearing the Brunt: How the 2008-2009 Recession Created Poverty for Canadian Families

Bearing the Brunt: How the 2008-2009 Recession Created Poverty for Canadian Families Bearing the Brunt: How the 2008-2009 Recession Created Poverty for Canadian Families Citizens for Public Justice #501-309 Cooper Street Ottawa, ON K2P 0G5 T : 1-800-667-8046 F : 613-232-1275 E: cpj@cpj.ca

More information

Perceptions of Homelessness in Chicago and New York City

Perceptions of Homelessness in Chicago and New York City Perceptions of Homelessness in and City an ICPH Poll Comparison February 2011 Page 2 Perceptions of Homelessness in and City Perceptions of Homelessness in and City ICPH Poll Comparison In order to gauge

More information

CANADA AND U.S. AUTO SALES: ROOM FOR FUR- THER GROWTH? October 2014. Factors supporting the U.S. sales outlook: Employment Growth

CANADA AND U.S. AUTO SALES: ROOM FOR FUR- THER GROWTH? October 2014. Factors supporting the U.S. sales outlook: Employment Growth 93619 CANADA AND U.S. AUTO SALES: ROOM FOR FUR- THER GROWTH? October 2014 Canadian and U.S. auto sales have strengthened significantly from recession lows. Canadian new motor vehicle sales have surprised

More information

VEHICLE SURVIVABILITY AND TRAVEL MILEAGE SCHEDULES

VEHICLE SURVIVABILITY AND TRAVEL MILEAGE SCHEDULES DOT HS 809 952 January 2006 Technical Report VEHICLE SURVIVABILITY AND TRAVEL MILEAGE SCHEDULES Published By: NHTSA s National Center for Statistics and Analysis This document is available to the public

More information

EDUCATIONAL ATTAINMENT. 2011-2013 American Community Survey 3-Year Estimates

EDUCATIONAL ATTAINMENT. 2011-2013 American Community Survey 3-Year Estimates S1501 EDUCATIONAL ATTAINMENT 2011-2013 American Community Survey 3-Year Estimates Supporting documentation on code lists, subject definitions, data accuracy, and statistical testing can be found on the

More information

Comparison Profile prepared by the New Mexico Economic Development Department State Data Center. Page 1 of 5

Comparison Profile prepared by the New Mexico Economic Development Department State Data Center. Page 1 of 5 Comparing New Mexico to Colorado DEMOGRAPHICS Colorado New Mexico Population estimates, July 1, 2014 5,355,866 2,085,572 Population, percent change - April 1, 2010 to July 1, 2014 1.4% 1.4% Population

More information

Economic Outcomes of a U.S. Carbon Tax. Executive Summary

Economic Outcomes of a U.S. Carbon Tax. Executive Summary Economic Outcomes of a U.S. Carbon Tax Executive Summary [ Overview [ During the ongoing debate on how to address our nation s fiscal challenges, some have suggested that imposing a carbon tax would improve

More information

Transforming America s Energy Future. Kentucky. Energy Statistics. Developed by

Transforming America s Energy Future. Kentucky. Energy Statistics. Developed by Transforming America s Energy Future Kentucky Energy Statistics Developed by 2 2 Summary The first edition of Kentucky Energy Statistics is offered by the National Association for State Energy Officials

More information

Methodology for Massachusetts Economic Independence Index 2013

Methodology for Massachusetts Economic Independence Index 2013 Methodology for Massachusetts Economic Independence Index 2013 This report outlines the methodological approach, resources, and assumptions applied in calculating each budget item of the Massachusetts

More information

Health Insurance Coverage in Texas

Health Insurance Coverage in Texas Health Insurance Coverage in Texas U.S. Census Current Population Survey 2012 Data March 2014 Fast Facts: Texans & Health Insurance (2012) 6.4 million uninsured Texans, 24.6% of all ages Highest rate in

More information

Reality Retirement Planning: A New Paradigm for an Old Science by Ty Bernicke, CFP

Reality Retirement Planning: A New Paradigm for an Old Science by Ty Bernicke, CFP Reality Retirement Planning: A New Paradigm for an Old Science by Ty Bernicke, CFP Executive Summary Traditional retirement planning assumes that a household's expenditures will increase a certain amount

More information

Promoting home ownership: How the FairTax s benefits for homeowners exceed the mortgage interest deduction

Promoting home ownership: How the FairTax s benefits for homeowners exceed the mortgage interest deduction A FairTax Whitepaper Promoting home ownership: How the FairTax s benefits for homeowners exceed the mortgage interest deduction Under the FairTax home purchases are more tax advantaged than they are today.

More information

The FY 2015 Budget Takes Steps toward Correcting DC s Unbalanced Tax System

The FY 2015 Budget Takes Steps toward Correcting DC s Unbalanced Tax System DRAFTDRA An Affiliate of the Center on Budget and Policy Priorities 820 First Street NE, Suite 460 Washington, DC 20002 (202) 408-1080 Fax (202) 325-8839 www.dcfpi.org Testimony of Jenny Reed, Policy Director

More information

Michigan s Direct-Care Workforce In Michigan each day, personal attendants, home health aides, and nursing aides

Michigan s Direct-Care Workforce In Michigan each day, personal attendants, home health aides, and nursing aides State Facts September 2011 UPDATED Michigan s Direct-Care Workforce In Michigan each day, personal attendants, home health aides, and nursing aides provide essential daily living services and supports

More information

New Report on Student-Loan Data Finds Debt Loads Burdensome for Many Graduates

New Report on Student-Loan Data Finds Debt Loads Burdensome for Many Graduates http://chronicle.com/daily/2002/03/2002030804n.htm (FULL TEXT OF REPORT BEGINS ON PAGE 5) Friday, March 8, 2002 New Report on Student-Loan Data Finds Debt Loads Burdensome for Many Graduates By ALEX P.

More information

Rhode Island State Energy Plan Business-As- Usual Forecast

Rhode Island State Energy Plan Business-As- Usual Forecast Rhode Island State Energy Plan Business-As- Usual Forecast October, 2013 Authors: Varun Kumar & Jamie Howland, ENE Submitted to: State of Rhode Island, Office of Energy Resources Table of Contents 1 Introduction...

More information

DEMOGRAPHIC DRIVERS. Millennials are also driving the increase in racial and ethnic diversity. The minority share of this generation is already

DEMOGRAPHIC DRIVERS. Millennials are also driving the increase in racial and ethnic diversity. The minority share of this generation is already 3 DEMOGRAPHIC DRIVERS As the US population becomes both older and more diverse in the coming decades, the demand for alternative types of housing will increase. Although the baby boomers will continue

More information