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U.S. State2nd State - December 12, 1787
Pennsylvania PA
"The Keystone State"
Where the Declaration of Independence was signed, the Constitution was written, Valley Forge forged an army, Gettysburg decided the war, Carnegie built a steel empire, and Flight 93 passengers chose to fight back, Pennsylvania has been present at every American turning point.
Pennsylvania state finances at a glance
State Debt - FY2024
$48.7 billion
Total state government debt outstanding at the close of fiscal 2024, including long-term bonds and short-term borrowing across state agencies and public universities.
Tax Revenue - FY2024
$55.2 billion
Total Pennsylvania state tax collections in fiscal 2024, led by the individual income tax ($17B) and the general sales tax ($16B).
Borrowing
Pennsylvania issues voter-approved general obligation bonds backed by its full faith and credit, sold to investors in the municipal market, along with bonds issued through authorities such as PENNVEST and the Commonwealth Financing Authority. A constitutional formula caps new general obligation debt. The state reported about $1.8 billion in interest on its debt in fiscal 2024.
Source: U.S. Census Bureau, 2024 Annual Survey of State Government Finances.
13.1M
Population
2nd
State (1787)
1776
Declaration Signed
446
Bridges in Pittsburgh