May 19, 2021 | Revenue Estimates
The IFO will release its Initial Revenue Estimate on Wednesday, May 26th at 1:00PM. The report will contain revisions to the FY 2020-21 estimate and an initial estimate for FY 2021-22. See the announcement for a link to register for the presentation.
April 22, 2021 | Revenue Estimates
This report provides estimates for the revenue proposals contained in the 2021-22 Executive Budget released February 2021. 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."
February 23, 2021 | Revenue Estimates
This report provides revised revenue distributions based on the FY 2020-21 projections contained in the Five Year Economic and Budget Outlook published by the IFO on January 21, 2021. They reflect the statutory changes that were enacted with the remainder of the FY 2020-21 state budget in November 2020.
January 11, 2021 | Revenue Estimates
The Independent Fiscal Office will release an updated revenue estimate and discuss economic trends for FY 2020-21 to 2025-26. The briefing is open to the public and submitted questions will be addressed at the end of the presentation. The report will also be posted to the IFO website when the presentation concludes. Click on the link for details on how to register.
October 23, 2020 | Revenue Estimates
The IFO will present a revenue and economic update for FY 2020-21 on October 29 at 10 am. The update will be based on revenues received for the first four months of the fiscal year and the latest state economic data. See the announcement for a link to register for the presentation.
September 08, 2020 | Revenue Estimates
Section 604-B (a)(2) of the Administrative Code of 1929 specifies that the Independent Fiscal Office (IFO) shall “provide an assessment of the state’s current fiscal condition and a projection of what the fiscal condition will be during the next five years. The assessment shall take into account the state of the economy, demographics, revenues and expenditures.” This report fulfills the demographics obligation in advance of the IFO’s release of the Economic and Budget Outlook for Fiscal Year 2020-21 to 2025-26. In prior years, the information contained in this report was presented as an individual section within the IFO’s Five-Year Economic and Budget Outlook.