This report examines the performance of IFO revenue estimates for the past eleven budget cycles.
Tags: estimate, performance, revenue
This research brief uses data from the Pennsylvania Department of Revenue, the American Community Survey and Social Security Administration to estimate the impact of the recently enacted expansion of the PTRR program. It provides detail on impact by income level, claimant type and county.
The Commonwealth collected $2.88 billion in General Fund revenues for July, an increase of $185.3 million compared to July 2022.
This research brief uses recent data from the U.S. Bureau of Labor Statistics to compute the impact of unusually high inflation on real average hourly earnings of Pennsylvania workers and a typical SERS-PSERS annuitant.
This research brief provides tabulations of corporate net income tax (CNIT) return data from tax year 2019 based on tax liability, apportionment factor and NAICS code.
The Monthly Economic Update provides data and insight on current trends that impact the state economy.
The Commonwealth collected $44.92 billion in General Fund revenues for fiscal year 2022-23, a decrease of $3.22 billion (-6.7%) compared to the prior fiscal year. The decline is due to a one-time transfer of $3.84 billion in FY 2021-22 and a new SUT transfer.
Director Matt Knittel made a brief presentation to the House Finance Committee on combined reporting.
Tags: combined, presentation, reporting
The IFO released an updated school district property tax forecast. The report (1) projects revenues through FY 2027-28, (2) estimates revenues collected from senior homeowners, (3) ranks counties based on per capita revenues and (4) provides detail on the projected Act 1 index.
The Monthly Economic Update provides data and insight on current trends that impact the state economy.