Pennsylvania Business Report
IFO warns Pennsylvania faces growing budget deficits
Pennsylvania faces significant budget challenges in the coming years, with projected annual deficits reaching as much as $7.4 billion, according to a new report released Nov. 12 by the Independent Fiscal Office (IFO). The IFO’s 2026 Fiscal Outlook examines the commonwealth’s financial condition and the potential impact of current policy proposals. The report warns that the state’s General Fund surplus will be depleted during the current fiscal year, leaving policymakers with difficult b...
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