The IFO will release its Initial Revenue Estimate on Tuesday, May 20th at 1:30 PM. The report will contain revisions to the FY 2024-25 estimate and an initial estimate for FY 2025-26. See the announcement for a link to register for the presentation.
The Commonwealth collected $6.21 billion in General Fund revenues for April, an increase of $528 million compared to April 2024.
This economic brief tracks the latest claims for unemployment compensation (UC) for all covered workers and federal workers only. The IFO is tracking these claims in preparation for its May 20 initial revenue estimate.
In response to a legislative request, the IFO transmitted a brief that provides revenue estimates for a statewide retail delivery fee.
This economic brief tracks the latest claims for unemployment compensation (UC) for all covered workers and federal workers only. The IFO is tracking these claims in preparation for its May 20 initial revenue estimate.
This budget update supplements the regular monthly revenue update published by the IFO and provides additional detail for March General Fund revenues. March revenues include large payments for gross receipts, insurance premiums, bank shares and corporate net income taxes.
The Commonwealth collected $6.25 billion in General Fund revenues for March, a decrease of $34 million (-0.5%) compared to March 2024.
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.