Post-Pandemic Child Care Cliff
February 23, 2023 | Economics and Other
The IFO posted a second research brief that examines the end or phase-out of various programs tied to the federal public health emergency that will impact the state economy. The brief examines the impact that nearly $820 million in federal support had on the child care industry and its employees, and the funding cliff the industry will encounter in the near future.
State and Local Tax Revenues: A 50 State Comparison
February 21, 2023 | Economics and Other
This report uses data from the U.S. Census Bureau, the Internal Revenue Service (IRS), the U.S. Bureau of Economic Analysis and the Federation of Tax Administrators to facilitate a comparison of state and local tax systems across the 50 states. The report examines (1) the relative level of state and local taxes across states, (2) the distribution of state and local taxes across revenue sources (e.g., income, sales and property) and (3) state debt levels.
Tags: comparison, local, state, tax
Economic and Budget Outlook Hearing Request
February 10, 2023 | Economics and Other
The IFO published a letter in response to requests for additional information raised at a recent economic and budget outlook hearing on January 24, 2023.
January 2023 Revenue Update
February 01, 2023 | Revenue & Economic Update
The Commonwealth collected $3.57 billion in General Fund revenues for January, a decrease of $23.7 million (-0.7%) compared to January 2022. Due to a processing delay on the last day of the month, roughly $94 million of revenue that would normally have been receipted in January will be shifted to February.
Mid-Year Update FY 2022-23
January 31, 2023 | Revenue Estimates
The Independent Fiscal Office (IFO) released a mid-year update of its revenue estimate for fiscal year (FY) 2022-23 and provided an advance look at revenue projections for the next fiscal year. The IFO will update the estimate in its next round of revenue projections released in late May.
SNAP Emergency Allotments End in February
January 27, 2023 | Economics and Other
The IFO posted a research brief that is the first in a series that examines the end or phase-out of various programs tied to the federal public health emergency that will impact the state economy. The brief quantifies the impact from the end of SNAP emergency allotments in February 2023.
This research brief was reposted on February 2, 2023 to change the 2023 summer benefit to $120 per child.
Analysis of Proposed Changes to State Motor Fuel Taxes
January 26, 2023 | Economics and Other
The IFO published a letter in response to a request from Chairman Grove for a static and dynamic analysis of proposed changes to state motor fuel taxes. The proposal would reduce those taxes and replace lost revenues with motor vehicle sales and use taxes.
JANUARY 2023 MONTHLY ECONOMIC UPDATE
January 25, 2023 | Revenue & Economic Update
The January edition of our Monthly Economic Update includes links to recent articles and reports that provide insight into state or national economic, demographic and fiscal trends.
Economic and Budget Outlook Presentation
January 24, 2023 | Revenue Estimates
The IFO presented results from its five-year outlook report published in November 2022.
Tags: budget, economic, presentation
PBB Overview Presentation for PID and EO
January 11, 2023 | Performance Budgeting
IFO presentation of Performance-Based Budget overview and agency highlights for the Pennsylvania Insurance Department and the Executive Offices is posted on the website.
Tags: budgeting, performance