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Federal budget

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Federal Budget and Economy

Amount of Outlays by Function

Outlays composition by type of spending from 1962 to 2025.

Federal Budget and Economy

Source of Revenue as Share of GDP

Receipt composition as a share of GDP by type of tax from 1934 to 2025.

Federal Budget and Economy

Federal Receipt and Outlay Summary

Receipts, outlays, and surplus or deficit in dollars and as a percent of GDP from 1940 to 2025.

Federal Budget and Economy

Federal Receipt and Outlay Summary by Fund Group

Summary of receipts and outlays by fund group from 1934 to 2025.

Federal Budget and Economy

Amount of Revenue by Source

Receipt composition by type of tax from 1934 to 2025.

Federal Budget and Economy

Percentage of Revenue by Source

Percentage of receipt composition for each type of tax from 1934 to 2025.

Federal Budget and Economy

Projected Income Tax Expenditures by Revenue Effect, 2013-2017

income tax expenditures for fiscal years 2013 to 2017, ranked by projected revenue effect.

From The Briefing Book

From the Briefing Book

What is reconciliation?

December 20, 2015 by tpcwebsite

Q.

What is reconciliation?

A.

Congressional budget committees use the reconciliation process to ensure tax laws and mandatory spending programs are revised according to the budget resolution’s revenue and mandatory spending targets. Reconciliation is a way to fast-track revenue and spending legislation into becoming law.

  • Read more about What is reconciliation?

What is the schedule for the federal budget process?

December 20, 2015 by tpcwebsite

Q.

What is the schedule for the budget process?

A.

The congressional budget process is meant to last from early February to the end of June, but recent years have seen delays at each stage, particularly in passing congressional budget resolutions and in completing action on appropriation bills.

  • Read more about What is the schedule for the federal budget process?

What does it mean for a government program to be off-budget?

December 20, 2015 by tpcwebsite

Q.

What does it mean for a government program to be off-budget?

A.

The two Social Security trust funds and the postal service are “off-budget”—their spending and receipts are walled off from the rest of the budget. Putting Social Security and the post office off-budget shields them from some pressures, but policymakers often focus on the unified budget that includes them. A few other agencies are excluded because of their independence (e.g., the Federal Reserve) or private character (e.g., government-sponsored, privately owned entities and funds managed for private citizens).

  • Read more about What does it mean for a government program to be off-budget?

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  • © Urban Institute, Brookings Institution, and individual authors, 2020.