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- 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
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.
- Presentation
Presentation by Kerk Phillips, an analyst in CBO’s Macroeconomic Analysis Division, at the National Tax Association’s 49th annual Spring Symposium.
- Presentation
The life-cycle growth model is one model that CBO uses to estimate the long-term effects of changes in fiscal policy. For example, the model can analyze the effects of changes to the Social Security system.