IFO Releases
Corporate Net Income Tax Proposals
March 15, 2022 | Economics and Other
The IFO responded to a request from Appropriations Committee Chairman Saylor for a dynamic revenue estimate of three corporate net income tax proposals.
Tags: corporate, income, legislative, net, request
Is the Student Loan Moratorium Impacting Employment?
March 08, 2022 | Economics and Other
The federal student loan moratorium enters its third year. The IFO posted a research brief that examines the impact of the COVID-19 pandemic (and related federal policies) on payroll employment and employment-to-population ratios by age group. Despite record-level job openings, the latest data for 2021 Q2 show the largest relative reductions for young workers, many of whom have student loans. By contrast, early retirements appear to have played a smaller role in decades-low labor force participation rates.
Economic and Budget Update Presentation
March 04, 2022 | Economics and Other
Deputy Director Brenda Warburton presented on the Commonwealth’s economic and budget outlook at a session of the Pennsylvania Education Policy and Leadership Center.
The presentation was updated on March 18, 2022 for a technical change on slide 30.
Tags: budget, demographics, economic, estimates, presentation
Budget Hearing Materials 2022
February 22, 2022 | Economics and Other
The Independent Fiscal Office submitted materials to the House and Senate Appropriations Committees ahead of its budget hearings. The packet includes data on the state economy, revenues, demographics and other miscellaneous topics.
COVID-19 Impact on Pennsylvania Deaths
February 11, 2022 | Economics and Other
This research updates a prior release (September 2021) that used preliminary data to estimate the impact of COVID-19 on total resident deaths for 2020 and 2021. The analysis finds 19,800 excess deaths in 2020 and estimates 18,900 excess deaths for 2021.
STATE AND LOCAL TAX REVENUES: A 50 STATE COMPARISON
January 19, 2022 | Economics and Other
This report uses data from the U.S. Census Bureau, the Internal Revenue Service (IRS), the U.S. Bureau of Economic Analysis and the Federation of Tax Administrators to facilitate a comparison of state and local tax systems across the 50 states. The report examines (1) the relative level of state and local taxes across states, (2) the distribution of state and local taxes across revenue sources (e.g., income, sales and property) and (3) state debt levels.
Tags: comparison, local, state, tax
IFO Background and Recent Releases
January 19, 2022 | Economics and Other
Director Matt Knittel made a presentation of recent IFO releases to the PA School Boards Association.
Employment Opportunity
January 04, 2022 | Economics and Other
The IFO is accepting applications for employment from qualified candidates. See the job posting for further details.
Pennsylvania Economic Development Incentives
November 29, 2021 | Economics and Other
This research brief presents data on Pennsylvania economic development incentives for fiscal years (FY) 2015-16 through FY 2020-21. The tables provide annual detail on tax credit utilization or awards, state spending or grants, job training programs and state loan programs. The brief also highlights recent changes to incentive programs spending or utilization.
Tags: brief, credits, development, economic, incentives, research, tax
Economic Outlook and Property Tax Update
November 16, 2021 | Economics and Other
Analyst Jesse Bushman made a presentation to PASBO regarding the IFO’s recent Five-Year Economic and Budget Outlook and School District Property Tax Forecast.
Tags: demographic, outlook, property, revenue