This research brief presents data on Pennsylvania economic development incentives for fiscal years (FY) 2014-15 through FY 2019-20. The tables provide annual detail on tax credit utilization or awards, state spending or grants, job training programs and state loan programs. The brief also highlights recent changes to incentive programs spending or utilization.
Tags: brief, credits, development, economic, incentives, research, tax
This research brief uses newly released IRS tax data to examine how the Tax Cuts and Jobs Act of 2017 impacted Pennsylvania federal income taxpayers. The analysis finds that tax law changes likely reduced federal income taxes by roughly $8.5 to $9.0 billion.
This research brief was originally posted on October 2 but was updated and reposted on October 13 so that refundable tax credits and certain miscellaneous taxes (AMT and net investment tax) are reflected in average tax rate and estimated tax cut computations. Previously, those amounts were itemized separately.
In response to a legislative request, the Independent Fiscal Office examined how the COVID-19 pandemic and mandated business closures could impact local earned income taxes (EIT), property taxes and gaming revenues received by municipalities, counties and school districts for the current year.
As required by Act 20 of 2019, this report examines the economic impact from the regulation of single-use plastics. The report considers three types of regulation that have been enacted by other states and local jurisdictions: a ban, a fee and a ban-plus-fee. The report examines potential outcomes if these regulations were implemented statewide for plastic retail bags. The analysis is also extended to a ban on expanded polystyrene foam foodservice products.
This research brief presents four maps that illustrate recent demographic and income trends at the county level. The release highlights population change, personal income growth and per capita figures for all counties of the Commonwealth.
The March edition of our monthly newsletter - The IFO News Stand. The release includes links to recent articles and reports that provide insight into state or national economic, demographic and fiscal trends.
The IFO responded to questions raised at the office's budget hearing before the Senate Appropriations Committee.
The IFO responded to questions raised at the office's budget hearing before the House Appropriations Committee.
In response to a legislative request, the IFO conducted a preliminary analysis on the state and county impacts of the Family First Prevention Services Act.
Tags: revenue
Director Matthew Knittel gave a presentation at a session of the Pennsylvania Education Policy Fellowship Program regarding the Commonwealth's economic and budget outlook.
Tags: presentation