Rep. Grove bills would reform revenue estimate process, provide more information to IFO

Rep. Grove bills would reform revenue estimate process, provide more information to IFO

Seeking to take out what he sees as the politics of forecasting future revenue, Rep. Seth Grove (R-York) recently introduced two bills that would reform how the Commonwealth arrives at its annual revenue estimate and what information the Independent Fiscal Office is able to see when determining its revenue forecasts and provides independent information to the legislature about state finances.

Friday, January 12, 2018/Author: Jason Gottesman
Categories: News and Views
State collects $2.8 billion in December General Fund revenues

State collects $2.8 billion in December General Fund revenues

The Pennsylvania Department of Revenue and the Independent Fiscal Office each reported this week that state General Fund revenue collections for the month of December rang in at around $2.8 billion.

 

However, that’s where it appears agreement stops between two of the Commonwealth’s top fiscal forecasters.

Wednesday, January 3, 2018/Author: Jason Gottesman
Categories: News and Views
Monthly, year-to-date state revenue collections above estimates

Monthly, year-to-date state revenue collections above estimates

State revenue collections for the month of November came in above estimate, the Department of Revenue reported Friday.

Friday, December 1, 2017/Author: Jason Gottesman
Categories: News and Views
October revenue collections dip, bringing year-to-date number below estimate

October revenue collections dip, bringing year-to-date number below estimate

Despite a robust first quarter in terms of revenue collections, the Independent Fiscal Office reported Wednesday that October revenue collections fell over $59 million over last year’s October numbers.

 

Total collections through October ring in around $9.1 billion.

Wednesday, November 1, 2017/Author: Jason Gottesman
Categories: News and Views
Lawmakers send budget-balancing bills to governor, but gaming bill remains for one more day

Lawmakers send budget-balancing bills to governor, but gaming bill remains for one more day

After 118 days, lawmakers on Wednesday sent to Gov. Tom Wolf a package of bills aimed at helping the end the budget impasse and providing funding for state related universities.

 

However, a gaming expansion bill that was said to provide around $200 million in the first year for the current year’s state budget was unable to get a vote in the House as the chamber pushed up against its 11:00 p.m. deadline.

Wednesday, October 25, 2017/Author: Jason Gottesman
Categories: News and Views
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