In 2018, average household income before accounting for means-tested transfers and federal taxes was $22,500 among households in the lowest income quintile and $321,700 among those in the highest quintile. CBO estimates that, after accounting for the effects of transfers and taxes, average income among the lowest and highest quintiles was $37,700 and $243,900, respectively. Between 1979 and 2018, average income, both before and after means-tested transfers and federal taxes, grew in all quintiles, but it increased most in the highest quintile.
MAJOR RECURRING REPORTSView All
- H.R. 3856, a bill to require the Comptroller General of the United States to conduct a study on disparities associated with race and ethnicity with respect to certain benefits administered by the Secretary of Veterans Affairs, and for other purposes
- CBO’s Estimate for Senate Amendment 2123, an Amendment in the Nature of a Substitute to H.R. 3237, the Emergency Security Supplemental Appropriations Act