This research brief uses new benchmarked jobs data from the U.S. Bureau of Labor Statistics to track the sectors and industries that gained or lost jobs since 2019 (i.e., pre-Covid).
The IFO released a research brief that reviews county-level millage rate changes for CY 2025 and the prior decade.
This brief was updated on March 20, 2025 to correct an issue related to counties characterized as reassessed.
This brief provides a summary of estimates for revenue proposals included in the FY 2025-26 Executive Budget, and a comparison to the estimates from that document. For a more detailed explanation of the data and methodologies used for estimates, see the Analysis of Revenue Proposals released concurrently with this brief.
This document was reposted on March 6 to address a formatting issue. All figures are unchanged from the original posting.
This report provides estimates for the revenue proposals contained in the FY 2025-26 Governor's Executive Budget released February 2025. The Independent Fiscal Office (IFO) publishes this report to fulfill its statutory duties as provided under Section 604-B (a)(4) of the Administrative Code of 1929. 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."
The Commonwealth collected $2.88 billion in General Fund revenues for February, an increase of $111 million compared to February 2024.