What is the breakdown of revenues among federal, state, and local governments? Q.What is the breakdown of revenues among federal, state, and local governments? A.Federal, state, and local government receipts totaled $5.4 trillion in 2018. Federal receipts were 64 percent of the total, while state and local receipts (excluding intergovernmental transfers) were 21 percent and 15 percent, respectively. Read more about What is the breakdown of revenues among federal, state, and local governments?
How are federal taxes distributed? Q.How are federal taxes distributed? A.Although enterprises (e.g., retailers, employers) are legally obligated to pay certain taxes, the burden of all taxes ultimately falls on households. Read more about How are federal taxes distributed?
What options would increase federal revenues? Q.What options would increase federal revenues? A.Policymakers can directly increase revenues by increasing tax rates, reducing tax breaks, expanding the tax base, improving enforcement, and levying new taxes. They can indirectly increase revenues through policies that increase economic activity, income, and wealth. Read more about What options would increase federal revenues?
