Macroeconomic modeling of state tax policy enacted by PA General Assembly
Submitted by Maura Donley on Tue, 07/13/2021 - 9:17amIncluded in the PA Administrative Code, passed by the General Assembly as a part of the FY 2021-22 Budget, was a key provision that enables the Pennsylvania Independent Fiscal Office (IFO) to use dynamic scoring to scrutinize any legislation containing expenditures with a fiscal impact of more than $50 million if requested by a member of the General Assembly. Dynamic scoring is a macroeconomic forecasting technique that estimates the budgetary impact of a change in government policy or expenditure.