We discuss a particular formula used in the state budget related to personal income growth. The administration's January estimate of this formula for the 2016-17 state budget is likely too low.
We discuss the distinctions between our personal income and personal income tax projections.
The U.S. Bureau of Economic Analysis (BEA) has released state personal income data through the second quarter of 2015.
The U.S. Bureau of Economic Analysis has published its estimates of state personal income through the fourth quarter of 2014.
The state government's largest revenue source, the personal income tax, is much more volatile than "personal income," one key economic statistic that measures the overall size of the economy.