IFO presentation of Performance-Based Budget overview and agency highlights for the Pennsylvania Department of Education is posted on the website.
Tags: budgeting, performance
The federal student loan moratorium enters its third year. The IFO posted a research brief that examines the impact of the COVID-19 pandemic (and related federal policies) on payroll employment and employment-to-population ratios by age group. Despite record-level job openings, the latest data for 2021 Q2 show the largest relative reductions for young workers, many of whom have student loans. By contrast, early retirements appear to have played a smaller role in decades-low labor force participation rates.
Deputy Director Brenda Warburton presented on the Commonwealth’s economic and budget outlook at a session of the Pennsylvania Education Policy and Leadership Center.
The presentation was updated on March 18, 2022 for a technical change on slide 30.
Tags: budget, demographics, economic, estimates, presentation
The Commonwealth collected $2.43 billion in General Fund revenues for February, a decrease of $249.5 million (-9.3%) compared to February 2021.
This report for the fourth quarter of 2021 uses data collected by the PA Department of Environmental Protection to develop statewide and county-level tabulations of production volume and well counts.
The Independent Fiscal Office submitted materials to the House and Senate Appropriations Committees ahead of its budget hearings. The packet includes data on the state economy, revenues, demographics and other miscellaneous topics.
In response to a legislative request, the IFO transmitted a letter that estimates the potential reduction in property taxes due to Act 25 of 2011.
This research updates a prior release (September 2021) that used preliminary data to estimate the impact of COVID-19 on total resident deaths for 2020 and 2021. The analysis finds 19,800 excess deaths in 2020 and estimates 18,900 excess deaths for 2021.
The February 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.
The Commonwealth collected $3.59 billion in General Fund revenues for January, an increase of $931.08 million (35.0%) compared to January 2021.