The Independent Fiscal Office (IFO) has released its Monthly Economic Update for December 2020. Articles include these headlines: refinancing activity breaks records, business travel could permanently decline, and Pennsylvania renters will owe $224 million by December 31.
In addition, the Independent Fiscal Office estimates that due to the average price of natural gas at $2.08 for 2020, a 21% drop from the prior year, natural gas impact fee collections are expected to decline by $53 million compared to the prior year, which could reach its lowest level since inception. The IFO will release an updated projection in late January. Click here for more.