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Federal budget

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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 2024.

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 2024.

Federal Budget and Economy

Amount of Revenue by Source

Receipt composition by type of tax from 1934 to 2024.

Federal Budget and Economy

Percentage of Revenue by Source

Percentage of receipt composition for each type of tax from 1934 to 2024.

Federal Budget and Economy

Federal Receipt and Outlay Summary by Fund Group

Summary of receipts and outlays by fund group from 1934 to 2024.

Federal Budget and Economy

Projected Individual and Corporate Income Tax Expenditure Budget 2011-2017

corporate and individual components of income tax expenditures for fiscal years 2011 to 2017.

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 the schedule for the federal budget process?

December 20, 2015 by kdavis@urban.org

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?

How did the TCJA affect the federal budget outlook?

September 28, 2018 by laustin@urban.org

Q.

How did the TCJA affect the federal budget outlook?

A.

The Tax Cuts and Jobs Act cut taxes substantially from 2018 through 2025. The resulting deficits will add $1 to $2 trillion to the federal debt, according to official estimates. The debt increase will be larger if some of TCJA’s temporary tax cuts are extended.

  • Read more about How did the TCJA affect the federal budget outlook?

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

December 20, 2015 by kdavis@urban.org

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, 2016.