Tax Policy Center

Fiscal Facts

E.g., 04/25/2024
E.g., 04/25/2024
US versus OECD Tax Revenues as Share of GDP
Total tax revenue (including federal, state, and local taxes) as a share of GDP was 24% for the US in 2018, having declined after the 2017 tax law changes. The US ranked 33rd out of 36 OECD countries, and below all other G7 countries.

December 16, 2019

December 16, 2019
Types of Tax Filing Status
48% of all individual income tax returns filed for tax year 2017 were by single filers, 36% by those married filing jointly and surviving spouses, 14% by heads of households, and 2% by those married but filing separately.

December 9, 2019

December 9, 2019
Federal payroll tax revenues over time
Payroll tax revenues as a share of GDP increased steadily for four decades as the tax rates and base increased, but then leveled off after 1988 at around 6.5 percent of GDP. Since 2000, the share has declined, reaching 5.8 percent of GDP in 2018.

December 2, 2019

December 2, 2019
Tax Expenditures on Education in 2019
The tax code subsidizes education costs through various credits, deductions, and exclusions, with these tax expenditures totaling $32 billion in 2019. The largest is the American Opportunity Tax Credit for higher education expenses.

November 25, 2019

November 25, 2019
Highway Trust Fund Revenues
The Highway Trust Fund is funded by selected excise taxes. The tax rates on motor fuels, the biggest revenue source, have not increased since 1993. In recent years, transfers from the General Fund have sustained trust fund spending.

November 18, 2019

November 18, 2019
Federal Tax Revenues as Share of GDP
Total federal tax revenues equaled 16.5% of the GDP in 2018. Tax revenues have generally fluctuated between 15% to 20% of GDP over the last 65 years.

November 11, 2019

November 11, 2019
US versus OECD Tax Revenues Breakdown
Compared to other OECD countries, the United States relies more heavily on personal income tax (39% vs 23%) and less heavily on consumption taxes, such as sales or value-added taxes (13% vs 29%).

November 4, 2019

November 4, 2019
Aviation annual excise tax revenues
The Airport and Airway Trust Fund, in effect since 1971, is funded by excise taxes on passenger air fares, air cargo, and aviation fuels. Revenues have increased steadily over time, except in years when authorization for the taxes expired temporarily.

October 28, 2019

October 28, 2019
Breakdown of Revenues by Level of Government
Tax revenue sources differ greatly between levels of government. Individual income and payroll taxes are the largest sources for the federal government, while sales and property taxes are the largest sources for states and localities.

October 21, 2019

October 21, 2019
Residential Energy Tax Credits by AGI
Residential energy credits benefit taxpayers with higher incomes more than others. In 2017, taxpayers with over $100,000 reported 47% of total AGI and claimed 54% of the credit amount, while those with under $25,000 reported 6% of AGI and claimed 1% of the credit.

October 14, 2019

October 14, 2019
Vaccine Injury Compensation Trust Fund Revenues
The Vaccine Injury Compensation Trust Fund, in effect since 1988, is funded by excise taxes imposed on CDC-recommended vaccines routinely administered to children. Revenues totaled $309 million in 2018.

October 7, 2019

October 7, 2019
Asset Breakdown of Gross Estate Reported
The total value of all assets reported on 2017 estate tax returns was $192 billion. About 24% of the total was publicly traded stock, while another 10% was closely held stock.

September 30, 2019

September 30, 2019
EITC Uptake by Number of Qualifying Children
The federal Earned Income Tax Credit (EITC) primarily benefits low- and moderate-income taxpayers with children. Taxpayers with no qualifying child comprised 26% of EITC returns, but received 3% of the total credit amount.

September 23, 2019

September 23, 2019
Tax Expenditures on Credit Union Exemption
The federal tax law exempts credit unions from paying corporate income taxes. According to the Treasury, this exemption will cost $24 billion in forgone tax revenue between 2019 and 2028.

September 16, 2019

September 16, 2019
Tax Expenditures on Low-Income Housing Tax Credit
The Low-Income Housing Tax Credit subsidizes the construction or rehabilitation of affordable rental housing for lower-income households. According to the Treasury, this credit will cost about $100 billion in forgone tax revenue between 2019 and 2028.

September 9, 2019

September 9, 2019