Pennsylvania : State Data and Comparisons : Data-Z

Pennsylvania

TIA Data

2023 Financial State of Pennsylvania (Released 10/03/2024)

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Pennsylvania owes more than it owns.

Pennsylvania has a -$10,000 Taxpayer Burden.™

Pennsylvania is a Sinkhole State without enough assets to cover its debt.

Elected officials have created a Taxpayer Burden™, which is each taxpayer's share of state bills after its available assets have been tapped.

TIA's Taxpayer Burden™ measurement incorporates both assets and liabilities, not just pension debt.

Pennsylvania only has $62.1 billion of assets available to pay bills totaling $112.1 billion.

Because Pennsylvania doesn't have enough money to pay its bills, it has a -$50 billion financial hole. To fill it, each Pennsylvania taxpayer would have to send -$10,000 to the state.

Pennsylvania's reported net position is overstated by $1.8 billion, largely because the state delays recognizing losses incurred when the net pension liability increases.

The state's financial report was released 166 days after its fiscal year end, which is considered timely according to the 180 day standard.

Prior Years' TIA Data

2022 Financial State of Pennsylvania

2021 Financial State of Pennsylvania

2020 Financial State of Pennsylvania

2019 Financial State of Pennsylvania

2018 Financial State of Pennsylvania

2017 Financial State of Pennsylvania

2016 Financial State of Pennsylvania

2015 Financial State of Pennsylvania

2014 Financial State of Pennsylvania

2013 Financial State of Pennsylvania