The share of people living in the United States in families with income below the official federal poverty threshold has fluctuated between about 11 percent and about 15 percent over the past several decades. CBO analyzes a wide variety of federal programs that aim to reduce poverty, alleviate some of poverty's adverse consequences, and enhance income security.
Poverty and Income Security
Feb 2014 - Raising the minimum wage would increase family income for many low-wage workers, moving some of them out of poverty. But some jobs for low-wage workers would probably be eliminated and the income of those workers would fall substantially.
Dec 2013 - Spending on the Social Security program will exceed its dedicated tax revenues, on average, by about 12 percent over the next decade, CBO projects. The gap will grow larger in the 2020s and will exceed 30 percent of revenues by 2030.
Dec 2013 - Households in the top quintile (including the top percentile) paid 68.8 percent of all federal taxes, households in the middle quintile paid 9.1 percent, and those in the bottom quintile paid 0.4 percent.
Nov 2013 - CBO analyzes the distribution of most federal spending—including transfers like Social Security benefits—and almost all federal revenues among U.S. households in 2006. Results are provided by type of household and by income group.
Feb 2013 - During the past 40 years, federal spending for major means-tested programs and tax credits for low-income households more than tripled as a share of gross domestic product. In 2012, such spending totaled $588 billion.
Jan 2013 - The number and cost of refundable tax credits have grown considerably since 1975. Federal costs (in 2013 dollars) peaked at $238 billion in 2008, but costs will fall to $149 billion in 2013, CBO projects, before reaching $213 billion in 2021.
Apr 2012 - One in seven U.S. residents received benefits through the Supplemental Nutrition Assistance Program (SNAP, formerly called Food Stamps) in 2011, at a total cost of $78 billion. Spending on SNAP benefits more than doubled between 2007 and 2011.
Nov 2012 - Between 2007 and 2010, unemployment benefits expanded nearly five-fold owing to high unemployment due to the weak economy, and decisions by policymakers to increase the number of weeks for which eligible unemployed workers could receive benefits.
Nov 2012 - Effective marginal tax rates among low- and moderate-income workers are about 30 percent, on average, with about one-third of that rate stemming from the federal income tax, more than a third from federal payroll taxes, and the remainder from state income taxes and the phaseout of SNAP benefits.
- Data or Technical InformationJuly 25, 2014
What Are the Causes of Projected Growth in Spending for Social Security and Major Health Care Programs?Blog PostJuly 18, 2014
- GraphicJuly 16, 2014
- ReportJuly 16, 2014
- ReportJuly 15, 2014
- ReportJuly 11, 2014
- Cost EstimateJuly 7, 2014
- Cost EstimateJune 23, 2014
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