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- Report
In 2020, the coronavirus pandemic and the ensuing federal response had significant effects on the distribution of household income. Income inequality before transfers and taxes increased, but inequality after transfers and taxes decreased.
- Report
The U.S. faces a challenging fiscal outlook in the coming years, according to CBO's projections. Measured as a percentage of GDP, large and sustained deficits lead to high and rising federal debt that exceeds any previously recorded level.
- Report
CBO issues a volume describing 17 policy options that would each reduce the federal budget deficit by more than $300 billion over the next 10 years or, in the case of Social Security options, have a comparably large effect in later decades.
- Report
CBO responds to questions about its current view of the economy over the next two years, how that compares with CBO's most recent projections and with those of the Federal Reserve, and the implications for households and the federal budget.
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CBO regularly analyzes the distribution of income in the United States and how it has changed over time. This report presents the distributions of household income, means-tested transfers, and federal taxes between 1979 and 2019.
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CBO examines changes in the distribution of family wealth from 1989 to 2019 and analyzes those changes in relation to several family characteristics. In addition, the agency examines how total family wealth has changed since 2019.
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CBO examines how inflation has affected households at different income levels and compares inflation since 2019 with the growth in household income over the same period.
- Report
The U.S. faces a challenging fiscal outlook according to CBO's extended baseline projections, which show budget deficits and federal debt held by the public growing steadily in relation to gross domestic product over the next three decades.
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CBO examined how the benefits from major tax expenditures in the individual income tax and payroll tax systems were distributed among households in different income groups in 2019.
- Report
In 2018, average household income after accounting for means-tested transfers and federal taxes was $37,700 among households in the lowest quintile and $243,900 among households in the highest quintile.