In response to a member request, the IFO provided revenue estimates for certain provisions of HB 2763, entitled The Universal Health Care Act.
The IFO will release its long-term fiscal outlook for FY 2026-27 to FY 2031-32 on November 12 at 1:30 pm. The report will include an assessment of the General Fund surplus and Rainy Day Fund under current law and policies, and recommendations for the FY 2027-28 Executive Budget to "secure greater efficiency and economy."
The IFO released an updated forecast of the Act 1 Index, which limits school district property tax rate increases. The report projects the index through FY 2031-32 and provides an overview of recent usage of the index by school districts.
The Commonwealth collected $4.06 billion in General Fund revenues for October, an increase of $596 million (+17.2%) compared to October 2025.
Section 604-B (a)(2) of the Administrative Code of 1929 specifies that the Independent Fiscal Office (IFO) shall “provide an assessment of the state’s current fiscal condition and a projection of what the fiscal condition will be during the next five years. The assessment shall take into account the state of the economy, demographics, revenues and expenditures.” This report fulfills the demographics obligation of this statute.
Director Knittel provided an “Economic Update” at the Greater Susquehanna Valley Chamber of Commerce's annual Economic Forecast.
The IFO released a research brief that updates fuel consumption through July 2026. Despite a large spike in gasoline prices over the summer, Pennsylvania drivers did not reduce consumption. The brief also examines the modest contraction of fuel taxes deposited into the Motor License Fund compared to other revenue sources, such as licenses and fees.
The IFO published a research brief that compares residential home sales trends across counties from 2019 to 2025. Data from the State Tax Equalization Board show that the average sales price increased by 58% during that period, while total sales declined by 15%. The brief shows that average price growth varied widely across counties and regions in the state, and the decrease in sales was relatively widespread.
The Commonwealth collected $4.84 billion in General Fund revenues for September, an increase of $784 million (+19.3%) compared to September 2025.
This report presents data on Pennsylvania tax credits and economic development incentives for fiscal years (FY) 2021-22 through FY 2026-27. The tables provide annual detail on tax credit utilization or awards, state spending or grants, job training programs and state loan programs. Fiscal year 2026-27 amounts are budgeted, authorized or projected and will differ from final amounts claimed or awarded. The report also highlights recent changes to incentive program spending or utilization.