Tax Policy Center

Fiscal Facts

E.g., 12/01/2023
E.g., 12/01/2023
Shares of individual, corporate, and payroll tax receipts have been roughly stable over the past two decades. However, between 2020 and 2021 individual and corporate receipts increased as a share of total receipts (by 4% and 3% respectively) and payroll t
Shares of individual, corporate, and payroll tax receipts have been roughly stable over the past two decades. However, between 2020 and 2021 individual and corporate receipts increased as a share of total receipts (by 4% and 3% respectively) and payroll tax receipts declined by 5%.

October 3, 2022

October 3, 2022
Federal debt held by the public was $22.3 trillion in FY 2021, or 99.7% of GDP. Recovery efforts in response to the COVID-19 pandemic caused the recent spike, but the Congressional Budget Office projects debt-to-GDP will reach a record-high 110% by 2032.
Federal debt held by the public was $22.3 trillion in FY 2021, or 99.7% of GDP. Recovery efforts in response to the COVID-19 pandemic caused the recent spike, but the Congressional Budget Office projects debt-to-GDP will reach a record-high 110% by 2032.

September 26, 2022

September 26, 2022
Among OECD countries in 2020, taxes on goods and services as a share of GDP ranged from the 4.3% in the United States to 16.2% in Hungary.
Among OECD countries in 2020, taxes on goods and services as a share of GDP ranged from the 4.3% in the United States to 16.2% in Hungary.

September 19, 2022

September 19, 2022
In 2020, state and local governments collected $2,569 per capita in nontax general revenue, ranging from Connecticut's $1,511 to Alaska's $5,932. Nontax revenue sources include oil and gas royalties, public tuition payments, and highway tolls.
In 2020, state and local governments collected $2,569 per capita in nontax general revenue, ranging from Connecticut's $1,511 to Alaska's $5,932. Nontax revenue sources include oil and gas royalties, public tuition payments, and highway tolls.

September 12, 2022

September 12, 2022
In 2019, interest and dividends comprised 21% of adjusted gross income (AGI) for those with AGI over $10 million, compared to 3% for those with AGI under $100,000.
In 2019, interest and dividends comprised 21% of adjusted gross income (AGI) for those with AGI over $10 million, compared to 3% for those with AGI under $100,000.

September 5, 2022

September 5, 2022
9.1% of individual income tax filers claimed the deduction for charitable contributions in tax year 2019. Among states, the share was highest in Maryland (19.6%) and lowest in West Virginia (3.1%).
9.1% of individual income tax filers claimed the deduction for charitable contributions in tax year 2019. Among states, the share was highest in Maryland (19.6%) and lowest in West Virginia (3.1%).

August 29, 2022

August 29, 2022
The federal government collected $5.3 billion from taxes on retirement annuities of railroad workers in fiscal year 2021. Railroad retirement tax collections were relatively stable for years before the COVID-19 pandemic.
The federal government collected $5.3 billion from taxes on retirement annuities of railroad workers in fiscal year 2021. Railroad retirement tax collections were relatively stable for years before the COVID-19 pandemic.

August 22, 2022

August 22, 2022
Tax returns claiming the Credit for the Elderly or the Disabled have declined over time since the credit amount and income limits have not been adjusted for inflation in 35 years. In 2019, 41,000 claimed the credit, compared to over 300,000 in the 1970s a
Tax returns claiming the Credit for the Elderly or the Disabled have declined over time since the credit amount and income limits have not been adjusted for inflation in 35 years. In 2019, 41,000 claimed the credit, compared to over 300,000 in the 1970s and 1980s.

August 15, 2022

August 15, 2022
In 2019, the homeownership rate across all US families was 64%, but this varied by race and ethnicity. About 45% each of Black families and Hispanic or Latino families owned their primary residence, compared with 73% of White families.
In 2019, the homeownership rate across all US families was 64%, but this varied by race and ethnicity. About 45% each of Black families and Hispanic or Latino families owned their primary residence, compared with 73% of White families.

August 8, 2022

August 8, 2022
Between 1989 and 2019, median family net worth increased 22% for those with college degrees and decreased 57% for those without high school diplomas. One explanation is the group without high school diplomas shrunk from 1989 to 2019.
Between 1989 and 2019, median family net worth increased 22% for those with college degrees and decreased 57% for those without high school diplomas. One explanation is the group without high school diplomas shrunk from 1989 to 2019.

August 2, 2022

August 2, 2022
In 2019, 10% of total state motor fuel tax revenue was allocated to mass transit. Only DC (95%) and MD (55%) allocated over half of this revenue source to mass transit, while others mostly allocated it to state-administered highways.
In 2019, 10% of total state motor fuel tax revenue was allocated to mass transit. Only DC (95%) and MD (55%) allocated over half of this revenue source to mass transit, while others mostly allocated it to state-administered highways.

July 25, 2022

July 25, 2022
In FY 2019, state and local governments spent 3.7% of their total direct general expenditures on police. Nevada (5.6%) and Florida (5.5%) spent the most, while Kentucky (2.1%) spent the least.
In FY 2019, state and local governments spent 3.7% of their total direct general expenditures on police. Nevada (5.6%) and Florida (5.5%) spent the most, while Kentucky (2.1%) spent the least.

July 18, 2022

July 18, 2022
In 2019, 4.4 million tax returns (2.8% of the total) claimed the itemized deduction for medical expenses. Tax law changes since 2017 have largely reduced the uptake of the deduction.
In 2019, 4.4 million tax returns (2.8% of the total) claimed the itemized deduction for medical expenses. Tax law changes since 2017 have largely reduced the uptake of the deduction.

July 11, 2022

July 11, 2022
The IRS workforce has declined substantially over the past three decades. In FY 1991, the IRS had 451 employees per million U.S. residents, whereas it had 237 employees per million U.S. residents three decades later, in FY 2021.
The IRS workforce has declined substantially over the past three decades. In FY 1991, the IRS had 451 employees per million U.S. residents, whereas it had 237 employees per million U.S. residents three decades later, in FY 2021.

July 4, 2022

July 4, 2022
Stocks are largely held by the families with the highest incomes. In 2019, the median value of stock holdings held by the top 10% of families by income was just under $400,000, compared with less than $1,000 for the bottom 20% of families by income.
Stocks are largely held by the families with the highest incomes. In 2019, the median value of stock holdings held by the top 10% of families by income was just under $400,000, compared with less than $1,000 for the bottom 20% of families by income.

June 27, 2022

June 27, 2022