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Mortgage Interest Deduction, by Income

About 22% of all returns, and over 70% of returns with AGI over $200,000 claimed the Mortgage Interest Deduction in 2015. These shares will drop, especially for middle-income households, since the new tax law substantially increases the standard deduction.

July 30, 2018

Thirty percent of all returns, and over 90% of returns with AGI over $200,000, claimed the state and local tax (SALT) deduction in 2015. These percentages will drop dramatically because the new tax law increases the standard deduction and caps the SALT deduction.

July 23, 2018

Federal Expenditures and Revenues, annually

Federal expenditures in FY2017 totaled almost $4 trillion, or about 21% of GDP. Federal revenues in FY2017 totaled $3.3 trillion, or about 17.3% of GDP. The last time the federal budget was in surplus or balance (FY1998-2001), revenues were around 19-20% of GDP.

July 16, 2018

Distribution of Net Estate Tax

The estate tax is part of contentious political debate, especially how it affects small farms and family businesses. In 2015, 67.1% of net estate tax came from estates that exceeded $20 million in value, compared to only about 2% from estates valued under $5 million.

July 9, 2018

Airway Trust Fund Annual Receipts

The Airport and Airway Trust Fund, in effect since 1971, is mainly comprised of excise receipts from taxing passenger air fares, air cargo, and aviation fuels. Revenues totaled $15 billion in 2017; but as a share of GDP, have increased only modestly in the last few decades.

July 2, 2018

Property Tax Revenue by State

State and local revenue from property taxes totaled $488 billion in 2015. On a per capita basis, DC was the highest with $3,359, followed by NJ with $3,082, and AL was the lowest with $540. Notably, all states in the northeast region collected more than $2,000 per capita.

June 25, 2018

Black Lung Disability Trust Fund Annual Receipts

The Black Lung Disability Trust Fund collected $429 million from taxes on coal mine operators and disbursed $183 million to affected miners and families in 2017. But the fund's debt exceeds $4 billion due to interest payments and the coal tax rate is set to decrease in 2019.

June 18, 2018

Young People and Primary Residence Ownership

For most age groups, particularly those under 45, home ownership rates have declined since 1989 and especially since 2004. However, for the over 75 age group, home ownership rates have increased.

June 11, 2018

SALT Average Amount Claimed

More than 44 million returns claimed the State and Local Tax Deduction in 2015, with a national average amount of about $12,500. The average deduction exceeded $10,000 in twenty states and $15,000 in six states. Starting in 2018, the deduction is capped at $10,000 per return.

June 4, 2018

Total Tax Revenue Comparison

Total tax revenue as a share of GDP was 26% for the United States in 2015, compared to the OECD’s weighted average of 33%. The United States ranked 30th out of 35 OECD countries and below all others in the G7 (Canada, France, Germany, Italy, Japan, and United Kingdom).

May 28, 2018

State and Local General Expenditures

State and local general expenditures totaled $2.8 trillion in 2015. Six states (CA, NY, TX, FL, IL, PA) had expenditures exceeding $100 billion each; on a per capita basis, AK was the highest with about $20,000 and AL was the lowest with about $6,400.

May 21, 2018

Annual Average EITC

The Earned Income Tax Credit (EITC) has been around since 1975; the average credit claimed per taxpayer in 1975 was $201 (or $886 in 2015 dollars). In 2015, the average credit claimed was $2,440, or almost 3 times larger in real terms.

May 14, 2018

Annual Income Tax Receipts

Federal receipts totaled $3.3 trillion in 2017, of which 9% was from corporate income taxes. This share has varied over time; back in the early 1950s, corporate income tax receipts were more than 30% of total federal receipts.

May 7, 2018

In 2015, state and local revenue from tobacco taxes totaled $18.2 billion. Five states (FL, IL, NY, PA, TX) had revenues exceeding $1 billion each; on a per capita basis, NH was the highest with about $178 and SC was the lowest with $5.

April 30, 2018

Asset Composition of Estate Tax Returns

In 2015, total gross estate reported on estate tax returns was $167.4 billion. About 25% of the total was publicly traded stock, and about 17% was real estate investments and personal residences. Other assets made up smaller shares.

April 23, 2018