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Economic Update

February 22, 2024 | Economics and Other

Director Knittel provided an economic update at the Economic Forecast and Business Leadership Summit.

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Revenue Estimates
Revenue & Economic Update
Performance Budgeting
Energy
Pension Analysis
Property Tax
Wage Contracts
Tax Credit Review
Economics and Other

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Pennsylvania Independent Fiscal Office

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(Oct 02) Surge in iGaming slots revenue drives Act 1 property tax relief to $800 million, an increase of $132 million (20%) from prior year. See: ifo.state.pa.us/Resources/Docu… pic.x.com/yxkXFf4Tt5
(Oct 01) The Commonwealth collected $4.16 billion in General Fund revenues for September, an increase of $105 million compared to September 2023. Fiscal year 2024-25 revenues total $10.09 billion, an increase of $248 million from the prior year. See: ifo.state.pa.us/Resources/Docu… pic.x.com/FapviDs3Fc
(Sep 25) For FY 23-24, PA gaming taxes generated $2.4 billion, and most was paid by middle income residents. See: ifo.state.pa.us/Resources/Docu… pic.x.com/2MYUoxAIbx

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