Revised economic forecast shows higher revenue estimate for Pennsylvania

By: Victor Skinner

(The Center Square) – Pennsylvania’s Independent Fiscal Office (IFO) released an updated economic forecast for fiscal year 2021-22 that shows higher than anticipated revenue, driven by stronger wages and inflation.

The IFO’s mid-year update for fiscal year 2021-22 showed general fund revenues were adjusted upward from nearly $42 billion to $45.3 billion, accounting for a more than 8% adjusted growth rate.

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Corporate Net Income, Pa. Economic Forecast

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