  We present new improved parton distributions for the photon. We fit {\bf all}
available data on the photon structure function, $F^{\gamma}_{2}(x,Q^2)$, with
$Q^2\ge 3$ GeV$^2$, in order to determine the quark distributions. We also pay
particular attention to the gluon distribution in the photon,
$g^{\gamma}(x,Q^2)$, which has been poorly constrained in earlier analyses
which only include structure function data. We use large $p_T$ jet production
in $\gamma \gamma$ collisions from TRISTAN to constrain $g^\gamma $. We also
see what information can be gleaned from $\gamma p$ collisions at HERA on
$g^{\gamma}$ and on the quark distributions at large $x$, where there are no
structure function data. We review future prospects of elucidating the parton
distributions of the photon.
