Releases

As of July 2015, the Economic and Revenue Reports have been discontinued. They are now included in the Monthly Trend Reports.

IFO Releases

Implications of Aging for the PA Economy

May 24, 2017 | Presentations

Director Matt Knittel gave a presentation on May 24th to the PA Council on Aging regarding the implications of an aging population for Pennsylvania’s economy. An appendix slide appears at the end of the PowerPoint to include certain data requested during the presentation.

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Natural Gas Production Report, 2017 Q1

May 22, 2017 | Natural Gas Reports

This report for the first quarter of 2017 and the calendar year uses data collected by the PA Department of Environmental Protection to develop statewide and county-level tabulations of production volume and well counts.

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Quarterly Revenue Review 2017 Q1

May 05, 2017 | Revenue Estimates

The IFO produces this report to facilitate comparison of its quarterly revenue estimates with actual revenue collections. The report also provides context for the variances between estimates and actual collections.

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An Overview of School District Property Tax Reform

May 04, 2017 | Presentations

Throughout May, Director Matt Knittel and Deputy Director Mark Ryan will make five presentations on the potential implications of school district property tax reform. The events are sponsored by the Pennsylvania Economy League and will take place at the various locations listed below.

Click the following links for additional details:

READING                   Thursday May 4th 7:30-9:00am

WILLIAMSPORT       Friday May 5th 12:00-1:30pm

YORK                         Thursday May 11th 12:00-1:30pm

WILKES-BARRE       Friday May 12th 12:00-1:30pm

LEHIGH VALLEY      Friday May 19th 12:00-1:30pm

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Initial Revenue Estimate FY 2017-18

May 02, 2017 | Revenue Estimates

The initial revenue estimate for FY 2017-18 and updated estimates for FY 2016-17.

Press Release

Presentation

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April 2017

May 01, 2017 | Monthly Trends Reports

The Commonwealth collected $3.43 billion in General Fund revenues for April, a decrease of $227.0 million (-6.2%) compared to April 2016. Fiscal year-to-date revenues were $25.82 billion, a decrease of $73.1 million (-0.3%) from the prior year.

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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.

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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.

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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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