Tax Policy Center

Fiscal Facts

E.g., 08/19/2019
E.g., 08/19/2019
State and Local Lottery Revenue
Nine states (NY, CA, FL, TX, MA, GA, PA, MD, IL) had net state and local lottery revenue exceeding $1 billion dollars in 2015. On a per capita basis, RI and DE led the states, both exceeding $300.

March 12, 2018

March 12, 2018
Annual U.S. Debt Held by the Public
The federal debt held by the public was $14.6 trillion in 2017, or about 77% of the GDP. This is more than twice as high as it was in 2001. The highest recorded was about 106% of the GDP in 1946, at the end of World War II.

March 5, 2018

March 5, 2018
Exemptions for Taxpayers and Dependents in 2015
Over 290 million exemptions were claimed in 2015; total exemptions claimed for taxpayers increase with income as married couples have higher incomes, on average; additional exemptions claimed also increase with income as high-income families support more dependents, on average.

February 26, 2018

February 26, 2018
Annual Medical Deductions
About 6% of all filers deducted their medical expenses in 2015. While this itemized deduction has been around since 1942, the threshold for total qualifying expenses has varied. Since 1986, this rate has been at least 7.5% of one's adjusted gross income.

February 19, 2018

February 19, 2018
Elderly and Disabled Credits
The Credit for the Elderly and Disabled primarily benefits households with little retirement income or earnings. It has not been indexed for inflation. Only 51,000 taxpayers claimed it in 2015, about 1/10 as many as 3 decades ago.

February 12, 2018

February 12, 2018
Unemployment Compensation Returns
In 2015, about 4% of individual income tax filers reported receiving unemployment compensation, the lowest share since at least 2000. The average amount reported also declined, from about $8,000 in 2010 to about $4,400 in 2015.

February 5, 2018

February 5, 2018
Itemized Deductions Returns
The share of individual income tax filers itemizing deductions has fluctuated over time. It increased over time and reached a high of 48% in 1970 and was 30% in 2015. Under the Tax Cuts and Jobs Act (TCJA), the share is expected to be more than halved.

January 29, 2018

January 29, 2018
Annual Telephone Receipts
Federal telephone excise tax receipts were less than 0.1% of all tax revenues in 2015, down from a high of 1.4% in 1950. The tax rate was fixed at a permanent 3% rate in 1990, but revenues dropped sharply in the mid-2000s after IRS lost a court case on the tax.

January 22, 2018

January 22, 2018
Annual IRA Contribution Deductions
The share of all returns claiming a deduction for IRA contributions was about 1.8% in 2015, the lowest in 30+ years. Following the 1981 Economic Recovery Tax Act, and before the 1986 Tax Reform Act, this share exceeded 12% between 1982 to 1986.

January 15, 2018

January 15, 2018
Average Dependent Care Tax Credit
The Child and Dependent Care Tax Credit (CDCTC) has been around since 1976; the average amount claimed on returns for 1976 was $206 (or $857 in 2015 dollars). For 2015, the average amount claimed was $565, or about 34 percent less in real terms.

January 8, 2018

January 8, 2018
EITC Distribution by AGI
In 2015, the largest number of taxpayers who claimed the Earned Income Tax Credit (EITC) had incomes between $10,000 and $15,000. The same income group of taxpayers claimed the largest dollar amount of credits.

January 1, 2018

January 1, 2018
State Excise Taxes on Beer, in teaser
In 2017, state excise taxes on beer ranged from $0.02 per gallon in Wyoming to $1.29 per gallon in Tennessee. In other words, people in Tennessee paid about 71 cents more per six-pack of beer than people in Wyoming.

December 25, 2017

December 25, 2017
In 2015, state and local nontax revenue as a share of total revenue ranged from 12% in Connecticut to 42% in Alaska. On average, the largest source was fines and forfeits, rents, royalties, and private donations.

December 18, 2017

December 18, 2017
Dependents with significant earnings need to file income tax returns or they may file to get a refund for withheld taxes. Over 9 million dependents filed returns in 2015, with about half having income under $5000 and about 1 percent with income over $30,000.

December 11, 2017

December 11, 2017
Between 2002 and 2004, the average student loan interest deduction claim (in 2015 dollars) dipped from $907 to $794. It did not exceed its 2002 level until 2007. Since 2008, the average value of the deduction has outpaced inflation.

December 4, 2017

December 4, 2017