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

Public Briefing on Revenue Estimates
April 27, 2017 | Revenue Estimates

The Independent Fiscal Office will release updated revenue forecasts for fiscal years 2016-17 and 2017-18 on Tuesday, May 2nd at 2:00pm. The session is open to the public and will take place in Room 105 of the Rachel Carson State Office Building. After the briefing, the report will become available on our website.

Upcoming Presentations on School Property Tax Reform
April 25, 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 various locations across the state. The full presentation will be posted on May 4th. Click on the links below for additional detail:

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

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)

Full Report

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