Taxes

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Federal revenues come largely from individual income taxes and payroll taxes, with corporate income taxes and other taxes playing smaller roles. CBO projects future federal revenues under current law, estimates the distribution of income and federal taxes, and analyzes the effects of various features of the federal tax system and potential changes to that system. (A separate page on the Budget provides information about a broader set of CBO's work in that area.)

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BUDGET DATA AND PROJECTIONS

ECONOMIC DATA AND PROJECTIONS

LONG-TERM BUDGET PROJECTIONS

BUDGET OPTIONS VOLUME

HISTORICAL BUDGET DATA

MONTHLY BUDGET REVIEW

GLOSSARY

REVENUE PROJECTIONS FOR FY 2015

(As of January 2015)

INDIVIDUAL INCOME TAXES

$1.5 Trillion

PAYROLL TAXES

$1.1 Trillion

CORPORATE INCOME TAXES

$328 Billion

OTHER

$302 Billion
  • The Budget and Economic Outlook: 2015 to 2025
    Report January 26, 2015

    Under current law, the deficit is projected to hold steady as a percentage of GDP through 2018, but rise thereafter, raising the already high federal debt. The rate of economic growth is projected to be solid in 2015 and the next few years.

  • Taxing Capital Income: Effective Marginal Tax Rates Under 2014 Law and Selected Policy Options
    Report December 18, 2014

    On average, the effective marginal tax rate on capital income is 18 percent, but that rate varies significantly by sector. In this report, CBO estimates effective rates under current law and eight policy options.

  • Options for Reducing the Deficit: 2015 to 2024
    Report November 20, 2014

    CBO periodically issues a compendium of options—this installment presents 79—to inform lawmakers about the budgetary effects of ways to reduce the deficit. The report has both interactive and printable formats.

  • The Distribution of Household Income and Federal Taxes, 2011
    Report November 12, 2014

    In 2011, households in the top, middle, and bottom quintiles received 52, 14, and 5 percent of the nation's before-tax income, respectively; the shares of federal taxes paid by those households were 69, 9, and 1 percent.

  • Choices for Deficit Reduction: An Update
    Report December 20, 2013

    Federal debt is projected to rise significantly over the long term. What policy changes could reduce future deficits and thus lower the trajectory of federal debt? What criteria might be used to evaluate those policy changes?

  • The Distribution of Federal Spending and Taxes in 2006
    Report November 7, 2013

    CBO analyzes the distribution of most federal spending—including transfers such as 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.

  • The Distribution of Major Tax Expenditures in the Individual Income Tax System
    Report May 29, 2013

    In 2013, the benefits of 10 of the largest tax expenditures will equal 11.7 percent of income for households in the lowest income quintile, 9.4 percent for the highest quintile, and under 8 percent for the middle quintiles, CBO estimates.

  • Effective Marginal Tax Rates for Low- and Moderate-Income Workers
    Report November 15, 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.