Search
- Blog Post
Over the past 30 years, the activity of businesses that are subject to the individual income tax has grown compared with that of businesses subject to the corporate income tax. That shift has reduced federal revenues but probably promoted overall investment and a more efficient allocation of resources.
- Report
Since the individual income tax was instituted in 1913, the profits of most businesses have been allocated, or “passed through,” to their owners and subjected to that tax—rather than to the corporate income tax. However, most business activity (specifically, the total revenue that businesses receive as receipts from sales of goods and services) has occurred at firms subject to the corporate income tax (C corporations) because those firms tend to be larger than pass-through entities.
- Report
The Congress has traditionally placed a limit on the total amount of debt that the Department of the Treasury can issue to the public and to other federal agencies. Lawmakers have enacted numerous increases to the debt limit—commonly known as the debt ceiling—some of which have been temporary and many of which have been permanent. Treasury debt is now approaching the current limit.
- Blog Post
Unemployment insurance benefits topped $150 billion during 2010—when the annual unemployment rate peaked at 9.6 percent—up from $33 billion in fiscal year 2007.
- Report
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 unemployed workers could receive benefits.
- Presentation
Senior Advisor Terry M. Dinan's presentation at the Conference on the Economics of Carbon Taxes
- Data and Technical Information
In this document, the Congressional Budget Office (CBO) illustrates effective marginal tax rates under the tax and transfer systems for hypothetical families consisting of a single parent with one child, a married taxpayer with two children, and a single taxpayer with no children. These illustrations supplement the analysis of effective marginal tax rates (hereafter, marginal tax rates) faced by a hypothetical single parent with one child described in Effective Marginal Tax Rates for Low- and Moderate-Income Workers.
- Blog Post
This afternoon CBO released a new report on Effective Marginal Tax Rates for Low- and Moderate-Income Workers.
- Report
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.
- Working Paper
Offsetting a Carbon Tax’s Costs on Low-Income Households