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Budget Roundtable Request

February 09, 2024 | Economics and Other

The IFO responded to questions raised at the House Budget Roundtable on January 31, 2024.

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Revenue Estimates
Revenue & Economic Update
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Energy
Pension Analysis
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January 2025

Pennsylvania Independent Fiscal Office

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(Jan 02) The Commonwealth collected $3.77 billion in General Fund revenues for December, $74 million (+2.0%) more than December 2023. FY 24-25 revenues total $20.17 billion and are $83 million (+0.4%) above IFO projections. See: ifo.state.pa.us/Resources/Docu… pic.x.com/Qfc1zb3Emc
(Dec 31) Corporate net income tax data for 2021 show that 12.4% of taxable income was offset by NOLs and 48 returns comprised nearly 25% of total tax liability ($4.6 billion). See: ifo.state.pa.us/Resources/Docu… pic.x.com/B1otbERYBb
(Dec 17) PA state-local tax system is moderately regressive. A new study examines the tax burden across 6 income groups for specific taxes and the overall state-local tax system. See: ifo.state.pa.us/Resources/Docu… pic.x.com/LbJYmU9IKS

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(717) 230-8293

contact@ifo.state.pa.us

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