Congressional Budget Office

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Taxes

Over the past 40 years, federal revenues have ranged from nearly 21 percent of GDP, in fiscal year 2000, to less than 16 percent, in fiscal years 2009 through 2012; they have averaged about 18 percent of GDP over the four decades. In addition to projecting the future course of federal revenues, CBO analyzes the budgetary and economic effects of various features of the federal tax system and the effects of potential changes to current tax rules.

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  • Analysis of the President's Budget
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  • Distribution of Federal Taxes
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S.1910, Domestic Partnership Benefits and Obligations Act of 2011

cost estimate

November 26, 2012

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  • Illustrative Examples of Effective Marginal Tax Rates Faced by Married and Single Taxpayers

related publications


  • The Distribution of Household Income and Federal Taxes, 2008 and 2009

    July 10, 2012

  • Historical Effective Federal Tax Rates: 1979 to 2005

    December 11, 2007

  • The Supplemental Nutrition Assistance Program

    April 19, 2012
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Effective Marginal Tax Rates for Low- and Moderate-Income Workers

report

November 15, 2012

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  • Effective Marginal Tax Rates for Low- and Moderate-Income Workers
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Illustrative Examples of Effective Marginal Tax Rates Faced by Married and Single Taxpayers: Supplemental Material for Effective Marginal Tax Rates for Low- and Moderate-Income Workers

data or technical information

November 15, 2012

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monthly archive

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  • April 2013 (14)
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  • February 2013 (10)
  • January 2013 (11)
  • December 2012 (4)
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CBO Releases a Report on Effective Marginal Tax Rates for Low- and Moderate-Income Workers

blog post

November 15, 2012


related publications


  • Offsetting Costs of a Carbon Tax on Low-Income Households

    November 16, 2012

  • The Estimated Costs to Households From the Cap-and-Trade Provisions of H.R. 2454

    June 19, 2009

  • The Supplemental Nutrition Assistance Program

    April 19, 2012

  • Options for Offsetting the Economic Impact on Low- and Moderate-Income Households of a Cap-and-Trade Program for Carbon Dioxide Emissions

    June 17, 2008

  • The Estimated Costs to Households From the Cap-and-Trade Provisions of H.R. 2454

    June 19, 2009

  • The Distributional Consequences of a Cap-and-Trade Program for CO2 Emissions

    March 12, 2009

  • The Distribution of Revenues from a Cap-and-Trade Program for CO2 Emissions

    May 07, 2009
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Offsetting a Carbon Tax’s Costs on Low-Income Households: Working Paper 2012-16

working paper

November 13, 2012

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Abstract

Terry Dinan

Imposing a tax on carbon dioxide emissions would reduce the damage from climate change but would also impose a larger burden, relative to income, on low-income households than on high-income households. This paper evaluates two broad groupings of options for reducing the regressive effects of a carbon tax; one group of options would affect large segments of the economy, for example by reducing payroll taxes, and the other group of options would be targeted at low-income households, for example by providing an additional payment to households currently receiving electronic transfer benefits. Each option is evaluated based on the percent of low-income households that it would affect, whether it would provide comparatively larger benefits for lower-income households, its administrative costs, and its implications for economic efficiency, specifically whether it would increase incentives to work and invest and whether it would preserve the incentives to reduce emissions that the carbon tax would create. The broad based options could potentially provide support for a relatively large share of low-income households, but some of those options would provide relatively small benefits to those households. Options specifically targeting low-income households could be most effective in reaching households that do not file income taxes or that do not have earnings. Three of the seven options considered would increase the incentive to work or invest and all but one of the options would preserve the incentive to reduce emissions of carbon dioxide.


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related publications


  • Economic Effects of Policies Contributing to Fiscal Tightening in 2013

    November 08, 2012

  • How the Supply of Labor Responds to Changes in Fiscal Policy

    October 25, 2012

  • An Update to the Budget and Economic Outlook: Fiscal Years 2012 to 2022

    August 22, 2012

  • The 2012 Long-Term Budget Outlook

    June 05, 2012

  • The Budget and Economic Outlook: Fiscal Years 2012 to 2022

    January 31, 2012

  • The Macroeconomic and Budgetary Effects of an Illustrative Policy for Reducing the Federal Budget Deficit

    July 14, 2011

  • Reducing the Deficit: Spending and Revenue Options

    March 10, 2011

  • Federal Debt and the Risk of a Fiscal Crisis

    July 27, 2010
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Choices for Deficit Reduction

report

November 8, 2012

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monthly archive

  • May 2013 (2)
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  • December 2012 (4)
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The Challenge of Deficit Reduction

blog post

November 8, 2012


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related publications


  • An Update to the Budget and Economic Outlook: Fiscal Years 2012 to 2022

    August 22, 2012

  • Fiscal Tightening in 2013 and Its Economic Consequences - Infographic

    August 22, 2012

  • Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output from April 2012 Through June 2012

    August 23, 2012

  • The 2012 Long-Term Budget Outlook

    June 05, 2012

  • Assessing the Short-Term Effects on Output of Changes in Federal Fiscal Policies: Working Paper 2012-08

    May 25, 2012

  • Economic Effects of Reducing the Fiscal Restraint That Is Scheduled to Occur in 2013

    May 22, 2012

  • Policies for Increasing Economic Growth and Employment in 2012 and 2013

    November 15, 2011

  • Confronting the Nation's Fiscal Policy Challenges

    September 13, 2011

  • Reducing the Deficit: Spending and Revenue Options

    March 10, 2011
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Economic Effects of Policies Contributing to Fiscal Tightening in 2013

report

November 8, 2012

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Taxation of Owner-Occupied and Rental Housing: Working Paper 2012-14

working paper

November 5, 2012

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Abstract

Larry Ozanne

This paper illustrates how the different tax treatments of owner-occupied and rented houses affect the relative costs of owning and renting. In the examples, a representative landlord computes the rental rate (the ratio of the rent to the value of the house) required to break even on an investment in a house. Potential homeowners compare that market rental rate as a tenant with an implicit rental rate that reflects the cost of owning a home.

The tax advantages tend to make owning more advantageous than renting for higher-income households, but lower-income households can find renting cheaper than owning. The paper also illustrates how limiting or eliminating certain tax advantages would change the cost of owning relative to renting. While the precise comparisons are specific to the conditions detailed in the examples, their general implications are broadly applicable.


monthly archive

  • May 2013 (2)
  • April 2013 (14)
  • March 2013 (22)
  • February 2013 (10)
  • January 2013 (11)
  • December 2012 (4)
  • November 2012 (10)
  • October 2012 (4)
  • September 2012 (6)
  • August 2012 (5)
  • July 2012 (11)
  • June 2012 (8)
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How Does CBO Model the Response of Labor Supply to Changes in Tax and Spending Policies?

blog post

October 25, 2012


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