This budget brief updates the General Fund financial statement for the FY 2026-27 enacted budget.
This report examines the historical performance of IFO revenue estimates. For FY 2025-26, actual collections exceeded IFO projections by 2.1%, or $1.0 billion.
The Independent Fiscal Office (IFO) released its official revenue estimate for FY 2026-27. Updated estimates for FY 2025-26 are included.
The IFO released its initial revenue estimate for FY 2026-27. Click the hyperlink above to view the report and presentation.
The IFO will release its Initial Revenue Estimate on Wednesday, May 20th at 1:30 PM. The report will contain revisions to the FY 2025-26 estimate and an initial estimate for FY 2026-27. See the announcement for a link to register for the presentation.
This budget brief is the final in a series that provides analysis of the revenue proposals included in the 2026-27 Governor’s Executive Budget. The IFO projects that the proposals would generate $652 million in FY 2026-27 and $1.76 billion by FY 2030-31. Despite the new revenue initiatives, a $6.8 billion deficit remains by the end of the period.
This report provides a revenue estimate for the proposal to legalize recreational marijuana contained in the FY 2026-27 Governor's Executive Budget. The Independent Fiscal Office (IFO) publishes this report to fulfill its statutory duties as provided under Section 604-B (a)(4) of the Administrative Code of 1929. The act requires that the IFO “provide an analysis, including economic impact, of all tax and revenue proposals submitted by the Governor or the Office of the Budget."
This report provides a revenue estimate for the proposal to tax and regulate skill games contained in the FY 2026-27 Governor's Executive Budget. The Independent Fiscal Office (IFO) publishes this report to fulfill its statutory duties as provided under Section 604-B (a)(4) of the Administrative Code of 1929. The act requires that the IFO “provide an analysis, including economic impact, of all tax and revenue proposals submitted by the Governor or the Office of the Budget."
The Independent Fiscal Office (IFO) released a mid-year revenue update for fiscal year 2025-26 and provided an advance look at revenue projections for the next fiscal year. The IFO will update the estimate in its next round of revenue projections released in late May.
The IFO will present its mid-year revenue update for the Commonwealth on January 28th at 1:30 PM. The update will include a discussion of recent economic trends, an updated financial statement for FY 2025-26 and an advance look at General Fund revenues for FY 2026-27.
Tags: analysis