Tax Policy Center

Fiscal Facts

E.g., 09/23/2020
E.g., 09/23/2020
Average Annual Elderly and Disabled Credits
Take up of the Credit for the Elderly and Disabled has declined since neither the credit amount nor the income limits have been adjusted for inflation in 35 years. It was claimed by 1 million taxpayers in 1976, 60,000 in 2016, and fewer claimants are expected in coming years.

April 15, 2019

April 15, 2019
Number of AMT Returns
Around 4 million taxpayers per year have paid the individual Alternative Minimum Tax (AMT) since 2005. Due to 2017's tax law changes, the AMT will be paid by only about 200,000 taxpayers, and will impose tax of around $5 billion in 2018, down from $31 billion in 2016.

April 8, 2019

April 8, 2019
Income from Capital Gains by AGI
Capital gains represent a significant source of income for high-income households, but not for others. In 2016, capital gains were 46.4% of adjusted gross income (AGI) for those with AGI over $10 million, compared to 0.7% for those with AGI under $100,000.

April 1, 2019

April 1, 2019
Own-Source Revenue and Tax Collections by State
Taxes comprised 69% of state and local own-source revenues (excluding federal transfers) in 2016. This share ranged from 37% in Alaska to 83% in Connecticut. Non-tax forms of own-source revenue include oil and gas royalties, public tuition payments, and highway tolls.

March 25, 2019

March 25, 2019
Annual Amount of Unemployment Compensation
Unemployment benefits follow the business cycle. During the recent Great Recession, unemployment benefits rose to 2.1% of total reported salaries and wages in 2010, and have since declined to 0.4% in 2016.

March 18, 2019

March 18, 2019
Median Value of Nonfinancial Holdings by Race
Family holdings of wealth and debt can vary significantly by race. The median net worth of non-Hispanic White families is 8 to 10 times greater than for both non-Hispanic Blacks or African Americans and Hispanics or Latinos.

March 11, 2019

March 11, 2019
Individual Income versus Corporate Income Tax Revenues
For the last 70 years, individual income tax revenues have averaged around 8% of GDP. In contrast, corporate income tax revenues declined from 6% of GDP in 1950s to under 2% in the 1980s through the Great Recession, and have averaged 1.4% of GDP since then.

March 4, 2019

March 4, 2019
Standard versus Itemized Deductions by AGI
Most individual taxpayers claim the standard deduction, as opposed to itemizing their deductions. The share of itemizers varies largely by income, from 5% of those with income under $20,000 to 93% of those with income above $500,000.

February 25, 2019

February 25, 2019
Alcohol Excise Tax Revenue Over Time
Alcohol excise taxes raised $9.9 billion in 2017. Inflation-adjusted revenues have declined over time as rising price levels have eroded constant per-unit tax rates; tax rates were last raised in 1991, and were temporarily lowered in 2017.

February 18, 2019

February 18, 2019
Federal Tax Liability of Top 1% of Households
The share of federal taxes borne by the top 1% of households by income has nearly doubled from 14% in 1979 to 26% in 2015. This increase mostly reflects a growth in their share of total before-tax income, which has increased from 9% in 1979 to almost 17% in 2015.

February 11, 2019

February 11, 2019
Returns Deducting IRA Contributions Over Time
In 2016, 1.8% of all individual income tax returns claimed a deduction for IRA contributions. This share was 16%, when the 1986 Tax Reform Act placed income limits on the deduction. Expanded availability of 401(k) plans have contributed to the decline.

February 4, 2019

February 4, 2019
Total Returns by Filing Status
In 2016, the largest share of individual tax returns were filed by single filers (48%), followed by those married filing jointly and surviving spouses (36%). About 14% of returns were filed by heads of households and only 2% from those married but filing separately.

January 28, 2019

January 28, 2019
Number of EITC Recipients Annually
The Earned Income Tax Credit (EITC) provides financial assistance to low-income working families. It was introduced in 1975 and expanded in legislation in 1986, 1990, 1993, and 2009. The number of recipients has increased from 6.2 million in 1975 to 27.4 million in 2016.

January 21, 2019

January 21, 2019
AOTC by Income Distribution
The American Opportunity Tax Credit can offset qualified higher education expenses for eligible students. The credit phases out for high-income households, and on average, about 5.8% of all taxpayers claim the credit.

January 14, 2019

January 14, 2019
Tobacco Excise Tax Revenues over Time
Federal excise taxes on tobacco are imposed on a cents per unit basis. Accordingly, real revenues tend to decline due to inflation unless tax rates are increased, as they were in 2009. In 2017, tobacco excise tax revenues totaled $13.8 billion.

January 7, 2019

January 7, 2019