Tax Policy Center

Fiscal Facts

E.g., 09/17/2024
E.g., 09/17/2024
Income from capital gains made up about 7% of aggregate adjusted gross income (AGI) in 2019, but this varied by income level. For those with AGI over $1 million, capital gains accounted for 31% of their income.
Income from capital gains made up about 7% of aggregate adjusted gross income (AGI) in 2019, but this varied by income level. For those with AGI over $1 million, capital gains accounted for 31% of their income.

December 12, 2022

December 12, 2022
In tax year 2019, about $110 billion was claimed in state and local property tax deductions, primarily by higher-income tax filers. Those with over $100,000 in adjusted gross income claimed 75% of the amount of deductions.
In tax year 2019, about $110 billion was claimed in state and local property tax deductions, primarily by higher-income tax filers. Those with over $100,000 in adjusted gross income claimed 75% of the amount of deductions.

December 5, 2022

December 5, 2022
Between 1977 and 2020, the composition of local general revenue stayed relatively stable. Notably, federal and state aid as well as property tax revenue declined, whereas revenue from charges (nontax payments for specific government services) increased.
Between 1977 and 2020, the composition of local general revenue stayed relatively stable. Notably, federal and state aid as well as property tax revenue declined, whereas revenue from charges (nontax payments for specific government services) increased.

November 28, 2022

November 28, 2022
The federal government levies taxes on gasoline (18.4 cents a gallon) and diesel (24.4 cents a gallon). These tax rates have been unchanged since 1993. If the gasoline tax rate had been adjusted for inflation since 1993, it would be 38 cents per gallon.
The federal government levies taxes on gasoline (18.4 cents a gallon) and diesel (24.4 cents a gallon). These tax rates have been unchanged since 1993. If the gasoline tax rate had been adjusted for inflation since 1993, it would be 38 cents per gallon.

November 21, 2022

November 21, 2022
The IRS collected over $3.6 trillion in income taxes from individuals across all states in FY 2021. By state, collections per capita were highest in DC ($37,000) and Massachusetts ($19,000) and lowest in West Virginia ($4,000).
The IRS collected over $3.6 trillion in income taxes from individuals across all states in FY 2021. By state, collections per capita were highest in DC ($37,000) and Massachusetts ($19,000) and lowest in West Virginia ($4,000).

November 14, 2022

November 14, 2022
About 168 million individual income tax returns were filed in FY 2021, up from 157 million in FY 2020 and 154 million in FY 2019.
About 168 million individual income tax returns were filed in FY 2021, up from 157 million in FY 2020 and 154 million in FY 2019.

November 7, 2022

November 7, 2022
In 2019, about 89% of all filers claimed the standard deduction while 11% itemized deductions. The share who itemize increases with income, from 2% for taxpayers with incomes less than $25,000 to 76% for taxpayers with incomes over $1 million.
In 2019, about 89% of all filers claimed the standard deduction while 11% itemized deductions. The share who itemize increases with income, from 2% for taxpayers with incomes less than $25,000 to 76% for taxpayers with incomes over $1 million.

October 31, 2022

October 31, 2022
In 2020, compared to Canada, the United States relied more on personal income taxes and payroll taxes than on corporate income taxes and consumption taxes.
In 2020, compared to Canada, the United States relied more on personal income taxes and payroll taxes than on corporate income taxes and consumption taxes.

October 24, 2022

October 24, 2022
The EITC supports low- and moderate-income working families. It also provides modest benefits for workers without qualifying children. In 2019, over 80% of total EITC benefits went to tax filers with incomes under $30,000.
The EITC supports low- and moderate-income working families. It also provides modest benefits for workers without qualifying children. In 2019, over 80% of total EITC benefits went to tax filers with incomes under $30,000.

October 17, 2022

October 17, 2022
In FY 2021, 40% of the IRS' personnel worked on examinations and collections, 34% on filing and account services, 9% on information services and business modernization, and 4% on investigations.
In FY 2021, 40% of the IRS' personnel worked on examinations and collections, 34% on filing and account services, 9% on information services and business modernization, and 4% on investigations.

October 10, 2022

October 10, 2022
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