Taxes

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.)

  • Blog Post

    View CBO’s budget infographics to see how much the federal government spent and took in during fiscal year 2019, as well as broader trends in the budget over the past few decades.

  • Blog Post

    CBO has reduced its projections of corporate income tax receipts for the 2020–2029 period by $127 billion (or about 4 percent). That change from the agency’s August 2019 projections arose from several sources.

  • Report

    In CBO’s projections of the outlook under current law, deficits remain large by historical standards, federal debt grows to 98 percent of GDP by 2030, and the economy expands at an average annual rate of 1.7 percent from 2021 to 2030.

  • Report

    CBO examines the tax benefit of having dependents under current law in 2019 and 2026 and analyzes how three policy options that would simplify dependent-related tax provisions would affect that benefit.

  • Report

    This report projects the distributions of household income, means-tested transfers, and federal taxes under current law in 2021 and compares them with the actual distributions in 2016.

  • Report

    CBO examines choices lawmakers would face in establishing a federal tax on the miles traveled by commercial trucks—including choices about the tax base, rate structure, and implementation methods—and illustrates how such a tax might affect the federal budget.

  • Report

    In 2016, average household income before accounting for means-tested transfers and federal taxes was $21,000 for the lowest quintile and $291,000 for the highest quintile. After transfers and taxes, those averages were $35,000 and $214,000.

  • Report

    In this report, CBO projects, on the basis of current law, marginal federal tax rates on labor income from 2018 through 2028. So that current trends can be understood in a historical context, the projections are accompanied by rates from 1962.

  • Report

    CBO periodically issues a volume of options—this year’s installment presents 121—that would decrease federal spending or increase federal revenues. CBO’s website allows users to filter options by topic, date, and other categories.