Welcome to the Home page of the Independent Fiscal Office (IFO). This page provides links to materials recently published or presented by the IFO. For a complete listing of publications and presentations made during the past year, please see the Releases page. If you would like to receive e-mails from the IFO when new documents are posted to this website, please sign up for our e-mail alerts. Click here to add your address to the list.
The release of the IFO's five-year economic and budget outlook has been rescheduled for December 9th.
Click here for details about a public presentation discussing the report.
Recent reports and documents:
- Raising the Minimum Wage in Pennsylvania. This research brief examines a proposal from the FY 2015-16 Executive Budget to raise the state minimum wage from $7.25 to $10.10 per hour.
- Monthly Trends Report for October 2015. Displays General Fund revenues and economic indicators. Highlights of the October report can be found here. Prior reports can be viewed by selecting the "Releases" tab.
- Quarterly Revenue Review. This report compares actual revenues to IFO estimates for the first quarter of fiscal year 2015-16. Includes the General Fund, Motor License Fund and Lottery Fund.
- Analysis of Revenue Proposals in the Executive Budget.
- Updated document (September 2015) includes a technical appendix that provides additional detail and discussion regarding the assumptions used for the analysis.
- Sales and use and personal income tax testimony and data tables prepared for a public hearing of the Senate Finance Committee.
- Severance tax testimony and data tables prepared for a public hearing of the Senate Finance and Environmental Resources and Energy Committees.
- Article from Forbes Energy (August 2015) regarding the potential incidence of the proposed severance tax.
- IFO's response to the Forbes Energy article.
- A recent Wall Street Journal article ("In New England, Shale Gas Is Hard to Get," September 30, 2015) discusses the pent-up demand for natural gas in New England. Content available to subscribers only.
- Quarterly Revenue Estimates. The projected breakdown, by quarter, of the FY 2015-16 revenue estimates for the General, Motor License and Lottery Funds published by the IFO on June 15, 2015.
- Natural Gas Production Report (new publication). Uses data collected by the PA Department of Environmental Protection to develop statewide and county-level tabulations of production volume and well counts.
- Report for the time period January to June 2015.
- Glossary of Natural Gas Terminology.
- Impact Fee Update and 2015 Outlook. This research brief presents final CY 2014 impact fee revenues and the corresponding annual average effective tax rate. The updated brief also provides new analysis of recent production data and discusses possible scenarios for CY 2015 impact fee collections (remitted in April 2016).
- Updated Revenue Estimates. The IFO's official estimate for FY 2015-16 with an updated estimate for FY 2014-15.
- Financial Transactions Tax. Letter discussing issues that should be considered when evaluating a potential state-level tax on the transfer of securities.
- State and Local Taxes: A Comparison Across States. This report examines how Pennsylvania's state and local tax structure compares to other states.
- Pennsylvania Gaming Trends. This research brief examines tax revenue trends for casino and pari-mutuel gaming and net profit trends for the lottery.