Fiscal Facts | Tax Policy Center

Skip to main content

In 2021, state and local governments spent $756 billion on elementary and secondary education. As a share of total state and local direct general expenditures, spending has ranged from 26% in 1977 to 21% in 2021.

In 2021, state and local governments spent $756 billion on elementary and secondary education. As a share of total state and local direct general expenditures, spending has ranged from 26% in 1977 to 21% in 2021.

July 17, 2023

In 2022, across the 38 OECD countries, the average statutory corporate tax rate was 23.6%. The United States had the14th highest rate at 25.8%.

In 2022, across the 38 OECD countries, the average statutory corporate tax rate was 23.6%. The United States had the14th highest rate at 25.8%.

July 10, 2023

Of the IRS's $14.3 billion budget in FY 2022, 38% went towards enforcement, 36% towards operations support, 23% towards taxpayer services, and 3% towards business systems modernization.

Of the IRS's $14.3 billion budget in FY 2022, 38% went towards enforcement, 36% towards operations support, 23% towards taxpayer services, and 3% towards business systems modernization.

July 3, 2023

Federal excise tax revenues from tobacco products totaled $11.3 billion in 2022. As a share of total federal revenues, they have declined from averaging 2.4% in the 1950s to 0.3% in recent years.

Federal excise tax revenues from tobacco products totaled $11.3 billion in 2022. As a share of total federal revenues, they have declined from averaging 2.4% in the 1950s to 0.3% in recent years.

June 26, 2023

Total tax revenue as a share of GDP in 2021 for the US was 26.6%, compared with the OECD's average of 34.1%. The US ranked 32nd out of 38 OECD nations.

Total tax revenue as a share of GDP in 2021 for the US was 26.6%, compared with the OECD's average of 34.1%. The US ranked 32nd out of 38 OECD nations.

June 19, 2023

After the Economic Recovery Tax Act of 1981, the share of returns that included a deduction for contributions to an IRA exceeded 12%, until deductible IRAs were curtailed by the Tax Reform Act of 1986. In 2020, the share was 1.5%

After the Economic Recovery Tax Act of 1981, the share of returns that included a deduction for contributions to an IRA exceeded 12%, until deductible IRAs were curtailed by the Tax Reform Act of 1986. In 2020, the share was 1.5%

June 12, 2023

Local property taxes comprised 72% of total local tax collections in FY 2020. Among states, this share ranged from around 40% in Alabama and Arkansas to 99% in Connecticut and Maine.

Local property taxes comprised 72% of total local tax collections in FY 2020. Among states, this share ranged from around 40% in Alabama and Arkansas to 99% in Connecticut and Maine.

June 5, 2023

Federal payroll tax revenues were equivalent to 5.9% of GDP in 2022. After rising steadily for decades because of tax rate increases and base broadening, revenues leveled off in the 1990s, averaging 6.1% of GDP since then.

Federal payroll tax revenues were equivalent to 5.9% of GDP in 2022. After rising steadily for decades because of tax rate increases and base broadening, revenues leveled off in the 1990s, averaging 6.1% of GDP since then.

May 29, 2023

Tax law changes since 2017 have largely reduced the uptake of the itemized deduction for medical expenses. In 2020, 2.4% of total tax returns claimed the deduction compared to 6.7% in 2017.

Tax law changes since 2017 have largely reduced the uptake of the itemized deduction for medical expenses. In 2020, 2.4% of total tax returns claimed the deduction compared to 6.7% in 2017.

May 22, 2023

Federal individual income tax liability as a share of adjusted gross income (AGI) increases as income rises. In tax year 2020, income tax liability was 13.6% of AGI for all tax filers, compared with 26% for tax filers in the top 1% of the income distribut

Federal individual income tax liability as a share of adjusted gross income (AGI) increases as income rises. In tax year 2020, income tax liability was 13.6% of AGI for all tax filers, compared with 26% for tax filers in the top 1% of the income distribution.

May 15, 2023

The tax code subsidizes health care consumption through credits, deductions, and exemptions, such as the exclusion for employer contributions to insurance plans. In fiscal year 2023, Treasury estimated these provisions to total $276 billion.

The tax code subsidizes health care consumption through credits, deductions, and exemptions, such as the exclusion for employer contributions to insurance plans. In fiscal year 2023, Treasury estimated these provisions to total $276 billion.

May 8, 2023

Consumption tax revenue (federal, state, and local levels) was 17% of total tax revenues for the US in 2020, compared to 27% for all other OECD countries combined. This is in part because the US does not have a broad-based national sales tax, or a VAT.

Consumption tax revenue (federal, state, and local levels) was 17% of total tax revenues for the US in 2020, compared to 27% for all other OECD countries combined. This is in part because the US does not have a broad-based national sales tax, or a VAT.

May 1, 2023

In 2020, 9.4 million income tax returns (or 6% of total) claimed the Retirement Savings Contributions Credit (or Saver's Credit). This nonrefundable tax credit, enacted in 2001, matches a portion of voluntary contributions to 401(k)s, IRAs, and similar re

In 2020, 9.4 million income tax returns (or 6% of total) claimed the Retirement Savings Contributions Credit (or Saver's Credit). This nonrefundable tax credit, enacted in 2001, matches a portion of voluntary contributions to 401(k)s, IRAs, and similar retirement plans.

April 24, 2023

The federal government spent $752 billion on national defense, or about 12% of total federal expenditures in FY 2022, compared to over 40% in the 1960s. Over time, more spending has been towards Social Security, Medicare, and Medicaid.

The federal government spent $752 billion on national defense, or about 12% of total federal expenditures in FY 2022, compared to over 40% in the 1960s. Over time, more spending has been towards Social Security, Medicare, and Medicaid.

April 17, 2023

In tax year 2020, 9% of all individual income tax returns claimed the itemized deduction for charitable contributions. By state, the shares ranged from 3% in West Virginia to 21% in Maryland.

In tax year 2020, 9% of all individual income tax returns claimed the itemized deduction for charitable contributions. By state, the shares ranged from 3% in West Virginia to 21% in Maryland.

April 10, 2023