IFO Releases
Treasury Windfalls Boost Revenues
September 25, 2023 | Economics and Other
Treasury collections are up dramatically from prior years. This research brief examines the cause of the windfalls and explains why they aren’t expected to continue over the long-term.
Economic Update
September 14, 2023 | Economics and Other
Director Knittel made a brief presentation to an economic summit hosted by the York County Delegation of the General Assembly.
Tags: economic, presentation
County Income Patterns 2018-2021
August 24, 2023 | Economics and Other
This research brief uses the latest published data to generate maps and county rankings of recent demographic and income trends. The release highlights population change, personal income growth and per capita amounts for all counties in the Commonwealth.
Inflation's Impact on Earnings and Pensions
July 31, 2023 | Economics and Other
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.
Corporate Net Income Tax TY 2019
July 25, 2023 | Economics and Other
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.
Presentation on Combined Reporting
June 29, 2023 | Economics and Other
Director Matt Knittel made a brief presentation to the House Finance Committee on combined reporting.
Tags: combined, presentation, reporting
What Drives Record Lottery Jackpots?
June 13, 2023 | Economics and Other
The IFO posted a new research brief that discusses the factors that motivate recent record Lottery jackpots for Mega Millions and Powerball and how large jackpots from those two games impact funds for programs the Lottery Fund supports.
Student Loan Repayment Moratorium Ends
June 12, 2023 | Economics and Other
As part of its annual revenue estimate, the IFO modeled the economic and revenue impact from the scheduled end of the student loan moratorium in September 2023. An IMPLAN economic simulation finds that annual state nominal GDP will decline by $3.4 billion while sales tax revenues decline by $125 million and personal income tax by $40 million.
PA Taxpayers Continue to Migrate South
May 03, 2023 | Economics and Other
The IFO posted a research brief that uses recent IRS tax data to track migration between states for 2020 and 2021. The IRS data indicate Pennsylvania net domestic migration was -14,376 (-0.11% of state population), which ranked 34th across all states. Large net inflows came from border states and net outflows went to southern states, most notably Florida. The adjusted gross income averaged $46,600 for the inflow group and $52,300 for outflows, with a total net flow of nearly -$2.0 billion.
Economic and Budget Update
April 19, 2023 | Economics and Other
The IFO presented an Economic and Budget Update to the PA Motor Truck Association.