Director Matthew Knittel gave a presentation to the County Commissioners Association of Pennsylvania that reviews highlights from the IFO's recent Economic and Budget Outlook.
Click on the hyperlink above to access the full report, three presentations and press release.
The Commonwealth collected $2.5 billion in General Fund revenues for October, an increase of $299 million (13.7%) compared to October 2017. Fiscal year-to-date revenues are $10.0 billion, an increase of $0.9 billion (10.1%) from the prior year.
The October edition of our monthly newsletter - The IFO News Stand. The new release highlights links to recent articles and reports that provide insight into state or national economic, demographic, budget and tax revenue trends.
On October 15, Deputy Director Brenda Warburton gave a presentation to the Performance-Based Budget Board which provided an update regarding Act 48 implementation.
Director Matthew Knittel made a brief presentation to the House Financial Rescue Caucus on October 9, 2018 on recent revenue and economic trends for the U.S. and Pennsylvania.
The Commonwealth collected $3.0 billion in General Fund revenues for September, an increase of $322 million (11.9%) compared to September 2017. Fiscal year-to-date revenues are $7.6 billion, an increase of $0.6 billion (9.0%) from the prior year.
The Commonwealth collected $2.3 billion in General Fund revenues for August, an increase of $145 million (6.8%) compared to August 2017. Fiscal year-to-date revenues are $4.5 billion, an increase of $0.3 billion (7.1%) from the prior year.
This report for the second quarter of 2018 uses data collected by the PA Department of Environmental Protection to develop statewide and county-level tabulations of production volume and well counts.
In response to a legislative request, the IFO submitted a letter that discusses the impact of the federal Tax Cut and Jobs Act (TCJA) of 2017 on Pennsylvania General Fund tax revenues and the economy.