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FIVE YEAR ECONOMIC AND BUDGET OUTLOOK

November 14, 2019 | Revenue Estimates

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Pennsylvania Independent Fiscal Office

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(Jul 08) New federal tax provisions included in the reconciliation bill will reduce FY 25-26 corporate tax revenues (and increase deficit) by a projected $700 million. See: ifo.state.pa.us/Resources/Docu… pic.x.com/gX2mVoDIjB
(Jul 07) Latest PA SNAP payment error rate of 10.8% could imply $670 million in new SNAP benefit costs in FY 27-28. New work requirements could cause a modest contraction in beneficiaries. See: ifo.state.pa.us/Resources/Docu… pic.x.com/fFHLRpM7u3
(Jul 01) The Commonwealth collected $3.74 billion in General Fund revenues for June, $108 million (+3.0%) more than June 2024. FY 2024-25 revenues totaled $46.41 billion and were $640 million (+1.4%) above IFO projections. See: ifo.state.pa.us/Resources/Docu… pic.x.com/jM3WrV7iak

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Independent Fiscal Office
2nd Floor Rachel Carson State Office Building
400 Market Street
Harrisburg, PA 17105