IFO Releases
Initial Revenue Estimate Announcement
May 07, 2025 | Revenue Estimates
The IFO will release its Initial Revenue Estimate on Tuesday, May 20th at 1:30 PM. The report will contain revisions to the FY 2024-25 estimate and an initial estimate for FY 2025-26. See the announcement for a link to register for the presentation.
April 2025 Revenue Update
May 01, 2025 | Revenue & Economic Update
The Commonwealth collected $6.21 billion in General Fund revenues for April, an increase of $528 million compared to April 2024.
Pennsylvania Unemployment Claims Tracker
April 29, 2025 | Economics and Other
This economic brief tracks the latest claims for unemployment compensation (UC) for all covered workers and federal workers only. The IFO is tracking these claims in preparation for its May 20 initial revenue estimate.
Retail Delivery Fee Revenue Estimates
April 23, 2025 | Economics and Other
In response to a legislative request, the IFO transmitted a brief that provides revenue estimates for a statewide retail delivery fee.
Unemployment Claims Tracker
April 10, 2025 | Economics and Other
This economic brief tracks the latest claims for unemployment compensation (UC) for all covered workers and federal workers only. The IFO is tracking these claims in preparation for its May 20 initial revenue estimate.
FY 2024-25 Interim Revenue Update
April 03, 2025 | Economics and Other
This budget update supplements the regular monthly revenue update published by the IFO and provides additional detail for March General Fund revenues. March revenues include large payments for gross receipts, insurance premiums, bank shares and corporate net income taxes.
March 2025 Revenue Update
April 01, 2025 | Revenue & Economic Update
The Commonwealth collected $6.25 billion in General Fund revenues for March, a decrease of $34 million (-0.5%) compared to March 2024.
Aging Population Drives Job Gains
March 20, 2025 | Economics and Other
This research brief uses new benchmarked jobs data from the U.S. Bureau of Labor Statistics to track the sectors and industries that gained or lost jobs since 2019 (i.e., pre-Covid).
2025 County Millage Rates
March 17, 2025 | Property Tax
The IFO released a research brief that reviews county-level millage rate changes for CY 2025 and the prior decade.
This brief was updated on March 20, 2025 to correct an issue related to counties characterized as reassessed.
Analysis of Revenue Proposals
March 04, 2025 | Revenue Estimates
This report provides estimates for the revenue proposals contained in the FY 2025-26 Governor's Executive Budget released February 2025. The Independent Fiscal Office (IFO) publishes this report to fulfill its statutory duties as provided under Section 604-B (a)(4) of the Administrative Code of 1929. 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."