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Joint Fiscal Office: January shows near-target gas receipts but motor-vehicle fees lag
Summary
The Joint Fiscal Office told the House Transportation Committee on Feb. 10 that January transportation revenues were slightly below forecasts overall: gasoline receipts were near target (+2.4%), diesel was stronger, while purchase-and-use taxes and motor-vehicle fees came in below forecast. The office urged monitoring 12-month and year-to-date trends before concluding there is a structural problem.
Logan Moberry of the Joint Fiscal Office told the House Transportation Committee on Feb. 10 that January transportation revenue overall was slightly below the forecast and urged members to review month-by-month and 12-month trends rather than react to single-month swings. "Oh, for the record, I am Logan Moberry with the joint fiscal office," he said as he began a walkthrough of the office's monthly revenue reports.
Moberry said the JFO posts both a one-page summary and a full-detail spreadsheet on the General Assembly/JFO web site under the "transportation" subject (the monthly data listing showed about 235 entries). The summary shows monthly actuals and targets on the left and cumulative year-to-date totals on the right; Moberry recommended focusing on year-to-date and 12-month comparisons because single-month figures can be noisy.
On the January numbers, Moberry reported…
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