IFO Releases
Student Loan Debt Forgiveness
August 31, 2022 | Economics and Other
The IFO published a research brief that uses a national analysis from the Penn Wharton Budget Model and data from the U.S. Department of Education to estimate the impact on Pennsylvania borrowers from student loan debt relief and other proposed changes to the federal program.
Where Did the Workers Go?
August 29, 2022 | Economics and Other
This research brief updates an original release in July 2022 to show data for two more recent months (job openings, jobs, unemployment rates and labor force) or one quarter (employment by age group).
The IFO published a research brief that examines the factors that caused the PA labor force to contract by 110,000 workers since the start of the pandemic. Factors identified include long-term demographic trends, care of elderly parents, cyber charter and home schooling, wealth accumulation and the elimination of the income-based phase-out for SNAP benefits that creates a punitive cliff for benefits that are twice the pre-COVID level.
Tags: brief, demographics, labor, research
August 2022 Monthly Economic Update
August 22, 2022 | Revenue & Economic Update
The August edition of our Monthly Economic Update includes links to recent articles and reports that provide insight into state or national economic, demographic and fiscal trends.
Natural Gas Production Report, 2022Q2
August 18, 2022 | Natural Gas
This report for the second quarter of 2022 uses data collected by the PA Department of Environmental Protection to develop statewide and county-level tabulations of production volume and well counts.
Tags: gas, natural, production
County Income Patterns
August 16, 2022 | Economics and Other
This research brief uses the latest published data to generate maps and county rankings of recent demographic and income trends. The release highlights population change, personal income growth and per capita amounts for all counties in the Commonwealth.
School District Property Tax Update
August 15, 2022 | Property Tax
The IFO released an updated school district property tax forecast. The report (1) projects revenues through FY 2026-27, (2) estimates revenues collected from senior homeowners, (3) ranks counties based on per capita revenues and (4) provides detail on the projected Act 1 index.
July 2022 Revenue Update
August 01, 2022 | Revenue & Economic Update
The Commonwealth collected $2.70 billion in General Fund revenues for July, a decrease of $4.0 million (-0.1%) compared to July 2021.
July 2022 Monthly Economic Update
July 25, 2022 | Revenue & Economic Update
The July edition of our Monthly Economic Update includes links to recent articles and reports that provide insight into state or national economic, demographic and fiscal trends.
June 2022 Revenue Update
July 01, 2022 | Revenue & Economic Update
The Commonwealth collected $48.13 billion in General Fund revenues for fiscal year 2021-22, an increase of $7.74 billion (19.2%) compared to the prior fiscal year.
Official Revenue Estimate FY 2022-23
June 23, 2022 | Revenue Estimates
The Independent Fiscal Office (IFO) released its official revenue estimate for FY 2022-23. Updated estimates for FY 2021-22 are included.