Independent Fiscal Office

Revenue Estimates

Includes statutorily required revenue estimates released in May or June, November and January each year.

Reports and Analyses

Includes special reports requested by the General Assembly and IFO Research Briefs.

Monthly Trends Reports

Monthly General Fund revenue collections by tax source. Monthly and quarterly economic indicators for the U.S. and Pennsylvania.

Latest Releases

Property Tax Elimination Projection
April 11, 2017 | Research Briefs and Special Reports

The IFO has released new projections regarding school property tax elimination. The document projects the school property tax revenues that would be eliminated, and thus subject to replacement, under legislation that may be introduced in the near future (the relevant parameters are summarized in the document). The projection builds upon a school property tax forecast the IFO released in January of this year.

Full Report

Analysis of Revenue Proposals in the 2017-18 Executive Budget
April 05, 2017 | Revenue Estimates

This report provides revenue estimates for the tax proposals contained in the 2017-18 Executive Budget released February 2017. The Independent Fiscal Office (IFO) publishes this report to fulfill its statutory duties as provided under 71 Pa.C.S. § 4104. The act requires that the IFO “provide an analysis, including economic impact, of all tax and revenue proposals submitted by the Governor or the Office of the Budget.” 

Note: A clarifying sentence was added to page 16 since the original publication. (Revised on April 7, 2017)

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March 2017
April 03, 2017 | Monthly Trends Reports

The Commonwealth collected $4.42 billion in General Fund revenues for March, a decrease of $64.5 million (-1.4%) compared to March 2016. Fiscal year-to-date revenues were $22.39 billion, an increase of $153.9 million (0.7%) from the prior year.

Full Report

Philadelphia Cigarette & Beverage Tax Impact
March 13, 2017 | Other Documents and Requests

The IFO responds to a request regarding the impact of Philadelphia’s local cigarette and beverage taxes on state revenue collections.

The letter has been revised to include current footnotes 3 and 6, which provide additional context for the assumptions used by the analysis.  (Revised on March 20, 2017)

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Horse Racing Analysis
March 13, 2017 | Other Documents and Requests

Act 7 of 2016 requires the Independent Fiscal Office (IFO) to provide technical assistance to the Joint State Government Commission (JSGC) for a study related to various aspects of the Pennsylvania horse racing industry. The IFO agreed to provide analysis and text necessary to address the statutory requirement that the report include “a determination of the economic return to the Commonwealth, racetrack operators, horsemen, breeders and other stakeholders on the investment of gaming assessments collected under the act of July 5, 2004 (P.L.572, No.71).”

This report is the IFO's submission to the JSGC in fulfillment of this requirement.

Note: Tables D and I (pages 8 and 21) and supporting text were updated since the original publication. (Revised March 13, 2017)

Letter to JSGC (March 13, 2017)

Letter to Rep. Stephens in response to questions regarding the IFO analysis. (March 28, 2017)

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