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Public Policy Analysis

Economic and Revenue Review for the Vermont State Legislature – January, 2025

In voting for change, the electorate in November excoriated the economicpolicies of the Biden Administration, but rarely has the economy entered a newpresidential term with such momentum. Despite two years of sustained highreal interest rates, the economy has not significantly slowed, and roaredthrough 2024 with recent unemployment at 4.1%, real GDP growth at 2.8%,inflation down to 2.4% (PCI basis), sturdy productivity gains, 48 consecutivemonths of job growth and the stock market posting multiple record highs. This stellar economic performance has… Read More »Economic and Revenue Review for the Vermont State Legislature – January, 2025

Economic and Revenue Review for the Vermont State Legislature – December 2024

Inflation is down sharply, to levels that have allowed the Fed to begin lowering interest rates, thereby supporting future investment and growth(with substantial lags…) Employment growth remains solid, despite a low October read due to hurricanes and the Boeing strike, at close to 200K new jobs per month. The unemployment rate has ticked up about a half a point from its 55 year lows in 2023,but has held steady at just over 4% Job openings still exceed the number of… Read More »Economic and Revenue Review for the Vermont State Legislature – December 2024

Economic Impact Analysis and Review of the Proposed Northern Pass Transmission Project

The purpose of this analysis is to evaluate regional economic impacts associated withthe proposed Northern Pass Transmission Project (the “Project” or “NPT”), per SECDocket No. 2015-06. There are three primary areas of analysis within our purview: (i) ageneral economic impact analysis of the construction, development and operation of theProject, including integration of energy market price impacts, (ii) potential propertyvaluation effects and (iii) potential tourism industry impacts. This analysis is primarily focused on statewide New Hampshire impacts, however, thereare some aspects… Read More »Economic Impact Analysis and Review of the Proposed Northern Pass Transmission Project