Releases

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

IFO Releases

Five Year Economic and Budget Outlook

November 16, 2017 | Revenue Estimates

This report examines the demographic, economic, revenue and expenditure trends that will affect the Commonwealth’s fiscal condition through fiscal year (FY) 2022-23. Based on the economic and demographic assumptions used by this report, the evaluation finds that various factors imply a long-term fiscal imbalance.

Press Release

IFO Presentation

PEW Presentation

Full Report

Quarterly Revenue Review 2017 Q3

November 03, 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.

Full Report

Monthly and Quarterly Revenue Estimates

August 10, 2017 | Revenue Estimates

This report provides preliminary revenue distributions based on the FY 2017-18 projections contained in the Official Revenue Estimate published by the IFO on June 15, 2017. They do not reflect any potential statutory changes that may be enacted with the state budget.

Full Report

Quarterly Revenue Review 2017 Q2

August 02, 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.

Full Report

Official Revenue Estimate FY 2017-18

June 15, 2017 | Revenue Estimates

FY 2017-18 official estimate and FY 2016-17 estimate revision (June 2017).

Methodology

Full Report

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.

Full Report

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

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

Mid-Year Update FY2016-17

January 25, 2017 | Revenue Estimates

The Independent Fiscal Office (IFO) has released a mid-year update of its revenue estimate for fiscal year (FY) 2016-17. The revised estimate is $32.060 billion, which is $250 million lower than the IFO’s November 2016 estimate and $450 million lower than the estimate published by the IFO at the beginning of the fiscal year. As part of the mid-year update, the IFO also provides an advance look at revenue projections for the next fiscal year. For FY 2017-18, revenues are projected to be $32.637 billion, an increase of 1.8 percent over the current year. The office will update the estimate in its next round of revenue projections to be released in early May.

Press Release

Full Report

Quarterly Revenue Review 2016 Q4

January 24, 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.

Full Report